Wandercraft Closes $45 Million Series C Financing to Accelerate Delivery of the World’s First Personal Self-Balanced Exoskeleton.
Paris, January 20, 2022 – Wandercraft, a prominent health tech firm specializing in dynamic robotics and exoskeleton technologies, has raised $45 million in equity funding. Quadrant Management led the series C financing, which included current investor Bpifrance and new investors MACSF, Malakoff Humanis, AG2R La Mondiale, Mutuelles Impact, and Sofiouest. Xange, Eurazeo, LBO France, and Cemag Invest were among the existing investors who took part in the round.
The majority of this new round of funding will be utilized by Wandercraft to continue developing and eventually launching, the new Personal Exoskeleton for outdoor and home use, in order to fulfill the company’s aim of “mobility for all.” Wandercraft will also be able to speed up the rollout of Atalante, its groundbreaking CE-marked rehabilitation exoskeleton, in the United States thanks to the funds.
“We are super excited to have attracted world-class investors from the USA and Europe to advance the development program of the company “, said Matthieu Masselin CEO of Wandercraft, “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.”
“We are proud to have also gathered a fantastic investor team. Quadrant, with their experience in the healthcare market, is a cornerstone for our deployment in the USA. Bpifrance is a long-standing growth partner and embodies the support of France, our home country. The entry of strong insurance and impact funds shows how our walk exos are valued by healthcare systems and society. The renewed trust of our existing investors is a great recognition of our achievements. This is the ideal team to help us deliver a lifechanging exoskeleton, moving from rehabilitation to daily life mobility. “
“We are thrilled to lead this round of financing and to bring together these responsible investors in order to make the world better,” noted Alan Quasha, Chairman and CEO of Quadrant Management. “Wandercraft has developed the world’s most advanced technology in walk robotics and markets the first self-stabilized 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.”
In connection with the financing, Alan Quasha Chairman and CEO of Quadrant Management will join Wandercraft’s Board of Directors.
“We are delighted to renew our support to Wandercraft, a company we know well”, said Emmanuel Audouard, Director of Transversal Venture Capital Investments at Bpifrance. “Wandercraft built a unique experience in robotics, medical technologies and in implementing global growth around their desire to bring autonomy to people with reduced mobility. Today, they are one of the most successful French Deeptech companies.”
Committed to accessibility for people with reduced mobility, the complementary health insurance companies Malakoff Humanis, AG2R La Mondiale, Mutuelle Impact, and MACSF (Leading Insurance Provider for Healthcare Professionals) want to support the experimentation, development of uses, and deployment of Wandercraft to their policyholders and medical professions.
“Wandercraft has succeeded in developing a revolutionary exoskeleton for the treatment of patients whose daily autonomy has been impaired,” says Stanislas Subra, head of investments at the MACSF Group, who has joined Wandercraft’s board of directors. “It is only fitting that we are delighted to participate in the rapid development of a French innovation alongside healthcare professionals.“
Bryan, Garnier & Co, the European Growth Investment Bank, acted as a private placement agent for this financing.
Wandercraft was founded in 2012. A group of engineers refused to accept the status quo of wheelchair use, believing they could create a better solution for mobility and autonomy. Wandercraft builds autonomous walking exoskeletons. Its first version, Atalante, was commercialized in 2019 and is used by rehabilitation and neurological hospitals in Europe and North America. Atalante provides innovative care for many patients based on realistic, hands-free, crutch-free locomotion.
Wandercraft is developing a personal version of the exoskeleton for outdoor and home use. It will enable people with reduced mobility to regain autonomy in their daily activities and improve their health, both at home and elsewhere.
For more information: www.wandercraft.eu