The BioRobotics Institute spin-off Iuvo has received an undisclosed joint investment from automation company Comau and orthopedics group Össur to support the development of wearable intelligent robotic exoskeletons.
The spin-off, founded in 2015, looks to focus initially on research and development and an eventual launch of new wearable robotic technologies, according to a release from joint investor Comau.
“The complementary nature of cutting-edge research in science and technology allows us to create unique products that can enhance the way people move and perform. Furthermore, these devices represent a long-term, sustainable answer to help increase the level of independence of those in need and, more generally, foster innovative life styles that promote our wellbeing,” Iuvo founding partner and BioRobotics Instittue werable robotics lab lead Nicola Vitiello said in a prepared release.
“IUVO is not just another spin-off company; when we founded it we had the ambition to contribute to revolutionize the society by fostering a large adoption of service robotic technologies: indeed, we are at the start of a new industrial revolution that will be enabled by the advancement of robotics and artificial intelligence technology; in this frame, IUVO has the ambition –thanks to the strategic alliance with two large industries- to pose a building block,” Iuvo founding partner Maria Carrozza said in prepared remarks.
Comau and Össur are majority shareholders of Iuvo, and will bring technical synergies from both firms to the company to aid in development, Comau said.
“The combination of world-class talent, new ideas, advanced robotics and biomedical expertise bodes well for this new venture. I am convinced that the development of intelligent and adaptive wearable technologies will help shape a better future,” Össur R&D exec VP Dr. Thorvaldur Ingvarsson said in a press release.
“This joint venture represents a key step toward the creation of wearable robotic exoskeletons that can enhance human mobility and quality of life. By uniting the know-how and enabling technologies of the various partners, we are in a unique position to extend the use of robotics beyond manufacturing and toward a truly progressive global reality. I believe the differentiating factor of a project like IUVO is the combination of Comau’s automation skills and Össur’s extensive experience in bionics and bracing to enable the production of products, such as the exoskeletons, and to be able to demonstrate the benefits of robotics,” Comau CEO Mauro Fenzi said in a prepared statement.