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Wandercraft, a Paris-based developer of exoskeletons, raised $45 million in Series C funding. The company plans to use the funding to develop and launch a personal exoskeleton for outdoor and home use, as well as to accelerate the deployment of Atalante, Wandercraft’s rehabilitation exoskeleton, in the United States.
Atalante is a self-balanced, lower-body exoskeleton that emulates the way humans walk. The company began clinical trials for the exoskeleton in 2017. It was CE marked in 2019.
The exoskeleton is designed to allow the wearer to freely move their upper body and torso with the company’s hands-free feature. The exoskeleton is used to help physical therapy patients walk faster and with more ease.
“We are super excited to have attracted world-class investors from the USA and Europe to advance the development program of the company,” Matthieu Masselin, CEO of Wandercraft, said. “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 funding round was led by Quadrant Management, an investment firm based in New York. It included participation from Bpifrance, SofiOuest, XAnge, Eurazeo, LBO France and Cemag Invest. Part of the funding also came from health insurance companies like MACSF, Malakoff Humanis, AG2R La Mondiale and Mutuelle Impact.
“Wandercraft has succeeded in developing a revolutionary exoskeleton for the treatment of patients whose daily autonomy has been impaired,” Stanislas Subra, head of investments at MACSF Group and a member of Wandercraft’s board of directors, said. “It is only fitting that we are delighted to participate in the rapid development of a French innovation alongside healthcare professionals.”
Wandercraft also announced that Alan Quasham, the chairman and CEO of Quadrant Management, is joining Wandercraft’s board of directors.