Hosted by IDTechEx
Wearable Technology Insights
Posted on January 24, 2022 by  & 
External Company Press Release

Delivery of the World's First Personal Self-Balanced Exoskeleton

Delivery of the World's First Personal Self-Balanced Exoskeleton
Wandercraft, a leading healthtech company in dynamic robotics and exoskeleton technology, announced a $45 million equity financing. 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.
Most of this new round of financing will be used by Wandercraft to fulfil the company's mission of "mobility for all", through the continued development, then launch, of the new Personal Exoskeleton for outdoor and home use. The funding will also allow Wandercraft to accelerate the deployment of Atalante, its pioneering CE marked rehabilitation exoskeleton, in the USA. For further information see the IDTechEx report on Wearable Technology Forecasts 2021-2031.
"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 the 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."
The complementary health insurance companies Malakoff Humanis, AG2R La Mondiale, Mutuelle Impact & MACSF (Leading Insurance provider for Healthcare Professionals), committed to accessibility for people with reduced mobility, wish to support the experimentation, the development of uses and the deployment of Wandercraft to their communities of 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 private placement agent for this financing.
About Wandercraft
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: External Link
About Quadrant Management
For more than 40 years, Quadrant has invested in companies around the world. Quadrant has an opportunistic investment philosophy, investing primarily in control positions of private companies. Quadrant's portfolio includes investments in manufacturing, healthcare, logistics and infrastructure, education, insurance and financial services, neurotechnology, telecommunications, business services, and alternative energy. Quadrant has a global portfolio, with active investments in the US, South America, East and Southeast Asia and Europe.
About Bpifrance and the PSIM fund
Bpifrance finances companies - at every stage of their development - with credit, guarantees and equity, supporting innovation projects in France and helping them to expand internationally. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export...).
Created in June 2017 as part of the Future Investment Program (PIA) and managed on behalf of the State by Bpifrance, the PSIM fund "Major Innovation Support Program" supports winners of the Global Innovation Competition via equity investment. It enables French start-ups to move towards the realization of their breakthrough innovations, and their international development. For more information, please visit:
About Sofiouest
Sofiouest is an investment company, a subsidiary of the Sipa Ouest-France Group. We invest in three different areas: Venture capital, Private Equity and Industrial Real Estate. Because we believe that entrepreneurs have the power to transform the world, we are committed to people who work for the thriving of the individual, for social cohesion, and for preservation of the planet. Because we consider ourselves responsible for future generations, we believe that a sustainable approach creates value for all and accelerates our financial profitability.
About XAnge
XAnge is a leading European venture capital firm based in Paris and Munich. We invest in European early-stage innovative technology companies operating in the fields of Digital consumer, Enterprise & Data, Fintech, and Deeptech. Since its creation in 2003, XAnge has backed more than 200 fast-growing companies in their entrepreneurial journeys. We work alongside visionary founders with strong values and international ambitions such as Ledger, Odoo, Gleamer, Synapse... XAnge is the Venture arm of Siparex, an independent investment group with €2Bn under management. Press contact:
XAnge also manages the vehicle Mutuelles Impact, a fund sponsored by la Mutualité Française and advised by Investir&+. The fund is financed by 46 Mutuelles and is dedicated to investing in start-ups and companies with strong social and or environmental impact in the health care sector.
Press contact:
About LBO France
As a key player in private equity with €6.5bn of commitments raised, LBO France is an independent company that has been supporting French and Italian companies in their growth for more than 30 years. Its investment strategy is built on 5 distinct segments managed by dedicated teams: (i) Mid Cap Buyout through the White Knight funds and Small Cap
Buyout through the Small Caps Opportunities funds, (ii) Venture Capital through the SISA/Digital Health funds, (iii) Real Estate through the White Stone, Lapillus and NewStone funds, (iv) Debt and (v) Public Equity through the France Développement fund. Historically focused on Institutional and Family Office investors, LBO France has launched a private equity multi-strategy funds accessible to individuals. LBO France is 100% owned by its management and employs nearly 60 professionals. Find out more: External Link
Source and top image: LicenceK
More IDTechEx Journals