Auxivo AG, a leading developer and manufacturer of exoskeletons, announced the successful closing of its latest round of financing, led by venture capital firm Ankaa Ventures, with additional support from existing investors. The investment will enable Auxivo to continue to push the boundaries of exoskeleton technology, provide customers with the best possible products, and drive advancements in the field. The partnership with Ankaa Ventures validates Auxivo's ability to shape the future of the industry.
"We strongly believe in Auxivo's ability to drive innovation in the emerging exoskeleton market and develop impactful solutions to create sustainable working conditions in various industries," said Damien Pierron, partner at Ankaa Ventures. "Improving workplace health is a global issue, and we intend to leverage our international network to accelerate Auxivo's expansion into new markets."
With the additional funding, Auxivo intends to accelerate its research and development efforts and expand its international presence.
"We are pleased to have Ankaa Ventures as a partner with deep industry expertise on our side. Their support is in line with our commitment to advancing exoskeleton technology for the benefit of workers worldwide," adds Volker Bartenbach, CEO of Auxivo.
Auxivo Team, June 2023
Exoskeletons for sustainable and healthy physical work
Auxivo is developing advanced occupational exoskeletons to reduce physical workload and injury risk in industries such as logistics, manufacturing, construction and healthcare. The systems can be worn by workers and provide support to relieve the body during work.
The company aims to make exoskeletons accessible to everyone by developing systems that are easy to use and offer high performance at a fair price. The company's vision is for occupational exoskeletons to become the new normal for sustainable and healthy physical work.
Already today, Auxivo has launched several products that are used by thousands of customers around the world.
The Auxivo exoskeleton portfolio
The LiftSuit® is a breakthrough textile back support exoskeleton launched in 2020 and 2 in a revised version 0.2022. Weighing less than 1 kg with a minimal footprint on the body, it provides significant back and hip muscle support during repetitive lifting activities and prolonged forward leaning. Typical applications include logistics, construction, agriculture and healthcare.
The CarrySuit® is Auxivo's exoskeleton for ergonomic carrying and handling of heavy loads. Launched in 2021, it reduces arm, shoulder and upper body strain in industries such as construction and transportation.
Auxivo's occupational exoskeletons from left to right: LiftSuit, CarrySuit, DeltaSuit®®®.
What are the next steps for Auxivo?
The new investment will be instrumental in accelerating Auxivo's research and development initiatives, enabling the company to further develop its technology and introduce new products and features tailored to the specific needs of different industries. This commitment to continuous improvement and product development ensures that Auxivo remains at the forefront of the young exoskeleton industry.
In addition, with the new funding, Auxivo will expand its international presence and target key markets around the globe. By building strategic partnerships and expanding its international activities, Auxivo aims to make its products accessible to a wider audience and achieve a positive impact on a global scale.
About Ankaa Ventures
Ankaa Ventures, based in Paris and Dubai, is a venture capital firm investing in early-stage European startups with strong international ambitions. Driven by Purpose and Innovation, Ankaa Ventures seeks visionary founders shaping a positive future in two areas: Planet &; Resources (energy transition, agri-tech, circular economy, mobility...) and Human Capital (HRtech, Edtech, future of work...). It also benefits from its industrial and financial experience As an international ecosystem, Ankaa Ventures offers active engagement and collaboration to support the growth of its portfolio companies.
About Auxivo AG
Auxivo AG is a Swiss exoskeleton company founded in 2019 as a spin-off from ETH Zurich. The company's mission is to improve the safety and well-being of employees by providing innovative and accessible systems that reduce physical strain and the risk of injury. The young company has developed and launched several products and has quickly established itself as a leading developer and manufacturer of exoskeletons.