German Bionic announced $20 million in funding from Samsung Catalyst, MIG AG, Storm Ventures, Benhamou and IT Farm

German Bionic, an Augsburg, Germany-based producer of exoskeletons for use in industrial production, announced raising a $20 million capital funding round.

The money was raised from a range of investors led by Samsung Catalyst Fund and MIG AG with participation from Storm Ventures, Benhamou Global Ventures, and IT Farm.

The proceeds will be used to expand its market and technology leadership for connected exoskeletons as well as ramp up development of its unique cloud robotics platform.

German Bionic, founded  and led bY CEO Armin G. Schmidt, built Cray X, a connected exoskeleton for industrial use. The product is used to boost worker productivity as well as health and safet, as it reinforces lifting movements and prevents improper exertion and excessive strain, thus reducing the risk of developing musculoskeletal disorders in the lower back.

Cray X comes together with a cloud robotics platform which is used for providing real-time data constituting the basis for machine learning and carry KPIs to end users, while also enabling remote maintenance as well as over-the-air software updates.

German Bionic is headquartered in Augsburg and has other office locations in Berlin and Tokyo.