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Friday, Sep 22, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

AI and Autonomy

Human In Motion Robotics gets $10M in Series A financing

$8 million came from a Korean firm Beno Holdings

Human In Motion Robotics gets $10M in Series A financing2
Photo via HMR.

Vancouver-based robotics company Human In Motion Robotics Inc. (HMR) announced it has received a multi-million investment to develop its robotic exoskeleton that helps people with mobility disabilities.

The company announced the closing of its Series A round gathering $10 million including $8 million from the Korean firm Beno Holdings. The investment will allow the company to accelerate research, expand production and drive market penetration.

“This strategic partnership brings together the expertise, networks, and resources of both companies, fostering synergies that will further enhance the advancement and commercialization of cutting-edge robotics solutions,” said CEO Siamak Arzanpour.

The exoskeleton XoMotion gives people with mobility disabilities to carry out bipedal motions and full-body exercises with natural body movements. It uses motion algorithms and a rechargeable Li-ion battery that has an integrated smart battery management system.

Besides the XoMotion, the company focuses on exoskeleton systems that can be used in construction, military, gaming and to help the elderly among other uses.

“We are excited about the opportunities that lie ahead and the positive impact we can create together. This collaboration represents a major leap forward in our journey to revolutionize exoskeleton technology,” said Edward Park, co-founder and COO at HMR.

Park and Arzanpour founded the company while they were professors at Simon Fraser University in Vancouver after starting robotics research in 2014.

Chloё Angus is the company’s lived experience lead and also a paraplegic who lost functionality of her legs after being diagnosed with a tumour. She says the exoskeleton has drastically changed her life and is able to help more people live their lives with independence.

“Our XoMotion exoskeleton will allow me and millions of others living with motion disability to walk back into their lives with pride and independence,” Chloё Angus T10 Paraplegic and HMR Lived Experience Lead said.

Human In Motion Robotics gets $10M in Series A financing

Chloё Angus T10 Paraplegic and HMR Lived Experience Lead. Photo via Human in Motion Robotics Inc.

Read more: Sanctuary AI rolls out the first general purpose robot

Read more: Sleep tech start-up Somnox starts crowdfunding for new ‘Sleep Robot’

More companies developing robots to save time

Other companies are also working on developing robots that save humans time and energy such as those designed to clean houses and general work.

Mid-May, the Vancouver-based robotics and artificial intelligence company, Sanctuary AI, revealed its sixth-generation general-purpose robot called Phoenix. The robot is a general-purpose humanoid robot that operates on the Carbon AI control system, aiming to imbue Phoenix with human-like intelligence, empowering it to undertake diverse tasks.

Its robotic hands are equipped with 20 degrees of freedom of movement, providing dexterity and manipulation comparable to that of a human hand.

Human In Motion Robotics gets $10M in Series A financing4

General purpose robot by Sanctuary AI. Photo via Sanctuary Ai.

Pudu Robotics is a Chinese company that recently announced a new cleaning robot aimed at indoor commercial environments such as office buildings, retail stores, hotels, schools and hospitals.

The PUDU CC1 can sweep, scrub, vacuum and dustmop floors and once it’s out of battery it automatically recharges.  The robot is capable of working continuously throughout the day and can clean up to 12,000 square meters in a single day.

It aims to effectively address workforce difficulties by handling the monotonous and repetitive tasks involved in cleaning. Its intuitive interface and straightforward operation enable users to easily set it up and utilize it with minimal training.

Human In Motion Robotics gets $10M in Series A financing

PUDU CC1 won Red Dot Product Design Award 2023. Photo via PUDU


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