Smart exoskeletons help logistics and care workers perform physically demanding tasks, especially lifting and carrying heavy loads.
The European Investment Bank (EIB), with the support of the InvestEU programme, is investing €15 million to further develop human-machine systems, which are based on artificial intelligence and are designed and manufactured by the technology company Bionic, which is based in Augsburg, Germany. The company’s smart exoskeletons help logistics and care workers perform physically demanding tasks, especially lifting and carrying heavy loads.
The start-up loan from the EIB will be used by the German company Bionic for research and development. The seed loan is quasi-equity financing that meets the needs of fast-growing innovative businesses. Returns largely depend on the success of the company. Seed loans complement existing venture capital financing without diluting the founders’ equity stake.
Commissioner Paolo Gentiloni said: “Across Europe, InvestEU’s contribution is crucial in supporting businesses trying to access the finance they need to engage in advanced research and development. This agreement is an excellent example of the funding provided by InvestEU to support research, which will enable Europe to maintain its global leadership in the development of innovative products with real positive applications.”
The InvestEU program provides the EU with long-term funding by leveraging private and public capital to support the EU’s strategic priorities, such as the European Green Deal and the digital transition. The InvestEU Fund is implemented through financial partners who will make investments with the guarantee of the EU budget, thus leveraging additional investments of at least €372 billion.
George Fellidis
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