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Exoskeleton startup Cosmos Bionics closes deal for Shark Tank Egypt

Egyptian medical exoskeleton start-up Cosmos Bionics was featured in an episode of Shark Tank Egypt that aired last month. Cosmos Bionics CEO Mina Ashraf Sadek and his team presented to the sharks and then answered their questions for an on-air segment that ran 24 minutes. The pitch included that there are over 2 million people in Egypt alone who suffer from mobility limitations.

The Shark Tank Egypt YouTube clip is in Arabic, but depending on your geographic region, you may be able to play it with automatically translated subtitles. If this fails, you can use the Google Translator app in audio input mode to translate parts at once.

In the end, Comsos Bionics accepted an offer from one of the sharks for EGP 3 million (about $100,000) in return for a 10 percent stake in the company. The investment money will be used primarily for research and to begin the ISO 13485 (certification for medical devices), CE marking certification journey.

In addition to successfully securing a bid, the Cosmos Bionics presentation introduced lower body exoskeleton technology to the North African region. The two reposts of the episode on YouTube alone have more than 250,000 views combined.

About the Cosmos Exoskeleton:

Cosmos is a hip-knee exoskeleton with lower-body propulsion for walking support from Egyptian startup Cosmos Bionics. It can also be considered a motor-driven limb orthosis that allows people with limited mobility to walk independently (under constant supervision). Similar to many devices of its kind, it requires crutches or other balance aids and good core and upper body strength from its user.

The current prototype is relatively light and weighs about 14 kg (31 lbs). It does not have a backpack component. The design calls for the footprint of the exoskeleton to be small enough that it can be worn while sitting in a normal wheelchair.

The Cosmos exoskeleton is equipped with wearable sensors that are used to both control the device and transmit user data to physical therapists via an Android app. The device can be controlled by leaning forward to walk, standing upright to stop, and leaning backward to sit down. The Exo can also be controlled wirelessly via the Android app.

About Cosmos Bionics:

Cosmos Bionics Ltd. is a product development startup founded in Egypt in 2022 with the goal of producing powered medical exoskeletons and other technologically advanced bionic products.

Link: Cosmos Bionics: Exoskeleton startup Cosmos Bionics closes deal on Shark Tank Egypt Medical Exoskeleton Report.

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Tom Illauer

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