Exoskeleton developer Wandercraft has raised $75 million in new financing shortly after inking a strategic partnership with French auto manufacturer Renault.
The Renault Group said last week that it obtained a minority investment in the company as part of a plan to develop a family of robots designed for its production lines. Meanwhile, Wandercraft said the latest funding will also help accelerate the clinical adoption of its powered suits aimed at rehabilitation and mobility as well as provide a boost to its industrial programs.
Wandercraft’s series D round included a mix of equity and debt financing, the New York City-based company said, with backing from Renault, Teampact Ventures, Quadrant Management and the PSIM fund, which is managed by Bpifrance on behalf of the country of France.
“The momentum we’ve achieved over the past few years is extraordinary,” Wandercraft co-founder and CEO Matthieu Masselin said in a statement. “We’ve expanded globally, launched pivotal clinical trials, readied the commercialization of Eve, our personal exoskeleton, and entered a landmark partnership with Renault Group. This funding allows us to continue our mission of transforming how people live, move, and work across rehabilitation, home environments, and soon on factory floors.”
The self-balancing Eve system is designed to assist with upright motions such as standing, bending and walking for people with severe mobility disabilities, the company said, with the goal of being used at home and in the community. The hardware was featured in 2024 as part of the torch relay for the Olympic and Paralympic Games, and Wandercraft has been enrolling participants for a pivotal clinical trial.
Meanwhile, the company’s FDA-cleared Atalante X device is built for aiding in rehabilitation and gait exercises under clinical supervision for adults with paralysis, spinal cord injuries or who are recovering from a stroke or other brain injury.
For industrial applications, Wandercraft is developing the Calvin-40 humanoid robot through the Renault partnership.
“It will allow us to accelerate on automation and to develop robots for our specific auto industrial use, giving us the opportunity to concentrate our people on more value-adding tasks and alleviate operators from painful and non-ergonomics duties,” said the Renault Group’s chief industry and quality officer Thierry Charvet. “In the end, it makes a lot of sense to combine Wandercraft’s unique expertise and technology in exoskeletons and robots, with Renault Group’s strong industrial capacity and design-to-cost know-how to bring the production of robots at scale.”