Zürich, July 19th, 2023 - Auxivo AG, a leading developer and manufacturer of exoskeletons, announced the successful closure of its latest financing round, led by venture capital firm Ankaa Ventures, with additional support from existing investors. The investment will enable Auxivo to continue pushing the boundaries of exoskeleton technology, providing customers with the best possible products and driving advancements in the field. The partnership with Ankaa Ventures confirms 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 across various industries”, said Damien Pierron, Partner at Ankaa Ventures. "Improving health at work is a global issue, and we aim to leverage our international network to accelerate Auxivo's expansion into new markets".
With the additional funding, Auxivo plans to accelerate its research and development efforts and expand its international presence.
"We are excited to have Ankaa Ventures as a partner with deep industry knowledge. Their support aligns 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 Labour
Auxivo develops advanced occupational exoskeletons to reduce the physical workload and risk of injuries in industries like logistics, manufacturing, construction, or healthcare. The systems can be worn by workers and provide support to reduce the strain on 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 that occupational exoskeletons will become the new normal for sustainable and healthy physical labor.
Already today, Auxivo has launched multiple products that are being used by thousands of customers around the globe.
Auxivo’s Exoskeleton Portfolio
The LiftSuit® is a pioneering textile back support exoskeleton, launched in 2020 with a revised version 2.0 launched in 2022. With a weight of less than 1 kg and a minimal footprint on the body, it provides significant support to the back and hip muscles during repetitive lifting activities and prolonged forward leaning. Typical applications are logistics, construction, agriculture, and healthcare.
The CarrySuit® is Auxivo's exoskeleton for the ergonomic carrying and handling of heavy loads. Launched in 2021, it reduces the strain on the arm, shoulder, and upper body 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 research and development initiatives at Auxivo, allowing the company to advance its technology and introduce new products and features that cater to the specific needs of diverse industries. This commitment to continuous improvement and product development ensures that Auxivo remains at the forefront of the young exoskeleton industry.
Furthermore, with the new funding, Auxivo will expand its international presence, targeting key markets around the globe. By establishing strategic partnerships and growing its operations internationally, Auxivo aims to bring its products to a wider audience, making a positive impact on a global scale.
About Ankaa Ventures
Based in Paris and Dubai, Ankaa Ventures is a venture capital firm that invests in European early-stage startups with strong international ambitions. Driven by purpose and innovation, Ankaa Ventures is looking for visionary founders shaping a Positive Future in two sectors: Planet & Resources (energy transition, agtech, circular economy, mobility…) and Human Capital (HRtech, edtech, future of work…). Leveraging on its industrial and financial experience, as well as its international ecosystem, Ankaa Ventures provides 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 an ETH Zurich spin-off. The company's mission is to enhance worker safety and well-being by providing innovative and accessible systems that reduce physical workload and the risk of injury. The young company has developed and launched multiple products on the market and has quickly established itself as a leading developer and manufacturer of exoskeletons.