The European Investment Bank (EIB) is investing €15 million in the further development of an AI-based human-machine system designed and manufactured by German Bionic, a technology company based in Augsburg. The company’s smart power suits help logistics and care workers perform physically demanding tasks, especially lifting and carrying heavy loads.
The EIB Venture Debt Loan will be used for German Bionic’s research and development.
Venture debt loans are financing that meet the needs of rapidly growing innovative companies. Returns are highly dependent on the company’s success. Venture debt loans complement existing venture capital funding without diluting the founder’s equity. This agreement is supported by InvestEU. InvestEU provides EU budget guarantees to implementing partners to enhance their risk-taking capacity and contribute to mobilizing public and private investment in EU policy priorities.
German Bionic is a leading provider of active and smart exoskeleton systems. Cray X is the world’s first AI-based fully connected power suit for the workplace. Self-learning supports lifting movements and prevents poor posture. Exoskeletons also improve workflow by providing real-time ergonomic data during working hours to protect employee health and significantly reduce the risk of accidents.
The current version of the power suit offers lifting support up to 30 kg and is also suitable for outdoor use. It was recently named Best of Innovation in the wearable technology category at the Consumer Electronics Show (CES) 2023. The robotics company plans to roll out further product innovations in early 2023.
“EIB supports innovative, sustainable and advanced technologies developed and manufactured in the European Union. This project is a significant step forward for Europe in the industrial exoskeleton market in terms of technological competitiveness and commercial opportunities. We are pleased to be able to support this European success story,” said the head of operations in Germany. EIB Vice President Ambroise Fayolle said.
European Commissioner Paolo Gentiloni added: As a world leader in developing innovative products with positive real-world applications. ”
“Our smart power suit protects workers from fatigue and accidents as they routinely perform heavy lifting to complete critical tasks.It provides mechanical support for lifting and carrying. , uses a smart assistance system to warn users when they are lifting improperly or when they need to lift.Take a break, which reduces time away from work as a result of fatigue or illness. , happier employees and better results.We see this as a positive for society and we want to take this further with our technology.”Schmidt, CEO Director and co-founder of German Bionic.