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Funding round puts Wandercraft’s ‘mobility for all’ mission on track

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Health tech firm Wandercraft has raised US$45m to speed the development and rollout of its exoskeleton products.

The equity finance raise will be used to fund the continued development of its new personal exoskeleton for outdoor and home use. It will also accelerate the deployment of Atalante, its CE-marked rehabilitation exoskeleton, in the US.

Paris-headquartered Wandercraft was founded in 2012 by a group of engineers who “refused to accept the status quo of wheelchair use, believing they could create a better solution for mobility and autonomy”.

With a stated mission to deliver “mobility for all”, it builds autonomous walking exoskeletons.

Its first version, Atalante, was commercialised in 2019 and is used by rehabilitation and neurological hospitals in Europe and North America. Atalante provides care for many patients based on realistic, hands-free, crutch-free locomotion.

The personal version of the exoskeleton for outdoor and home use is designed to enable people with reduced mobility to regain autonomy in their daily activities and improve their health, both at home and elsewhere.

CEO Matthieu Masselin said of its US$45m equity finance raise: “We are super excited to have attracted world-class investors from the US and Europe to advance the development programme of the company.

Wandercraft CEO Matthieu Masselin

Wandercraft CEO Matthieu Masselin.

“With the support of patients, medical professionals and the deeptech community, Wandercraft’s team has created a unique technology that improves rehabilitation care and will soon enable people in wheelchairs to regain autonomy and improve their everyday health.”

The series C round was led by the US fund Quadrant Management, joined by existing investor Bpifrance and new participants MACSF, Malakoff Humanis, AG2R La Mondiale, Mutuelles Impact and Sofiouest.

Other existing investors Xange, Eurazeo, LBO France and Cemag Invest also participated to the round.

Alan Quasha, chairman and CEO of Quadrant Management, said: “We are thrilled to lead this round of financing and to bring together these responsible investors in order to make the world better.

“Wandercraft has developed the world’s most advanced technology in walk robotics and markets the first self-stabilised exoskeletons. We share Wandercraft’s ambition to provide a new solution for mobility, and to improve the health of millions of people using wheelchairs. We believe that they will transform mobility and become the leading player in the market.”

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