Bionic Robotics, the Germany-based developer of a bio-inspired robot arm, raised a seven-figure euro amount today in a series A round featuring industrial holding company Abacus Alpha.
High-Tech Gruenderfonds (HTGF), the state-run venture fund backed by a host of German corporates, also took part in the round, as did state-backed fund Hessen Kapital and Dr. Reineck Management & Consulting.
Spun out of Technische Universität Darmstadt in 2010, Bionic Robotics’ lightweight and flexible robot arm, BioRob, is used for pick and place, inspection and assistance tasks in industrial workplaces.
The capital will fund the building of final assembly facilities for Bionic Robotics’ equipment, and to advance its European business development.
Ralf Teichmann, Bionic Robotics CEO, said: “I am pleased that after finishing the round we can now fully concentrate on our customers again. The financial means enable us to adapt our unique solution for one of the most important subjects in automation engineering to the needs of a number of lead users first. Then it will be rolled out on a broader scale.”
HTGF and Dr. Reineck previously provided an undisclosed amount of seed funding for Bionic Robotics in 2013.
– Photo courtesy of Bionic Robotics GmbH