Verve Motion Secures $20 Million in Funding to Expand Exosuit Business Capabilities

Verve Motion, a startup that is revolutionizing the way workers complete physically demanding tasks in factories and other environments with its robotic ‘exosuit’, has announced that it has raised $20 million in a Series B funding round led by Safar Partners. This latest investment brings Verve’s total funding to $40 million, and will be used to expand the company’s market share and manufacturing efforts.

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A Pioneer in Connected Wearable Technology for Industry

According to Verve co-founder and CEO Ignacio Galiana, the wearable robotics category is a relatively new industry that faces the challenge of building awareness and making a compelling case for need in the workplace. However, with its pioneering approach to connected wearable technology for industry, Verve is positioned to lead the way in this emerging field.

Origins in Biodesign Lab at Harvard

Verve’s origins lie in the Harvard-run biodesign lab at the Wyss Institute and School of Engineering and Applied Sciences. There, as part of a DARPA-funded initiative with support from the National Science Foundation and the National Institutes of Health, Verve’s co-founders – Galiana, Conor Walsh, Mike Rouleau, Nathalie Degenhardt and Nicolas Menard – developed technology to mitigate fatigue and injury risks for military personnel.

From Combat to Industry

The DARPA program, Web Warrior, focused on technologies that could help soldiers lift 100-or-so-pound loads. However, Galiana perceived applications well beyond combat, and launched Verve in 2020 to commercialize his team’s technology for industrial as well as retail and manufacturing settings.

A $20 Million Boost for Expanding Market Share

The new funding will be used to expand Verve’s market share and manufacturing efforts. According to Galiana, the company has already sold around 1,000 exosuits so far, with pilot programs in place with chains including Albertsons and Wegmans.

Conquering Industry Challenges

Galiana acknowledges that there are challenges ahead for Verve, including raising awareness about the benefits of wearable robotic technology for industry. However, he is confident that the company’s mission to power the human workplace through people-centric robotics will ultimately prevail.

The Future of Work: Wearable Robotics and Exosuits

As Galiana pitches it, the exosuit’s selling point is threefold: it mitigates risk of injury; boosts productivity; and is more cost-effective than traditional solutions. With its cutting-edge technology and commitment to innovation, Verve is poised to revolutionize the way industry approaches physically demanding tasks.

Key Takeaways

Verve Motion raises $20 million in Series B funding
Funding will be used to expand market share and manufacturing efforts
Verve’s exosuit technology has been commercialized for industrial applications
Company has sold around 1,000 exosuits so far
Pilot programs in place with Albertsons and Wegmans

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