Verve Motion, a Cambridge, MA-based wearable robotics technology company, raised $20M in Series B funding.
The round, which brought the total amount to over $40M, was led by Safar Partners, with new investments from Cybernetix Ventures as well as existing investors, including Construct Capital, Pillar VC and OUP. The round also included participation from individual investors including Frederic Kerrest, Vice-Chairman and Co-Founder of Okta, and John McEleney, Co-founder of Onshape, and formerly CEO of SolidWorks.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Ignacio Galiana, Verve Motion is a wearable robotics technology, committed to improving the lives of workers across various industries. With a focus on innovation and ergonomics, safety, and productivity, the company is developing soft exosuits that redefine the way people work. The SafeLift exosuit is a soft exosuit offering tailored, adaptive assistance that is customized for each worker and task. Its comfortable form factor, which wears like a backpack, is designed to power and protect industrial workers. SafeLift exosuit includes a cloud platform with motion-based sensors for automatic detection of risky movements like excessive bending and twisting. The software improves injury prevention through coaching and promotes ergonomic enhancements in the workplace.
Verve Motion’s soft exosuits are deployed in a wide range of industries, including grocery, package distribution, third party logistics, retail, supply chain distribution, and manufacturing. F
Spun out from Harvard University’s Biodesign Laboratory at the Wyss Institute, Verve Motion is based on a research funded by DARPA, the National Science Foundation, and the National Institutes of Health.
FinSMEs
13/12/2023