Wandercraft Closes $45M Round to Launch the World’s First Personal Self-Balanced Exoskeleton

Published : Friday, January 21, 2022, 12:00 pm
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Wandercraft, a leading healthtech company in dynamic robotics and exoskeleton technology, announced today 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.

“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.

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