The European Investment Bank supports German robotics company German Bionic with a €15m investment debt: Learn more

The European Investment Bank supports German robotics company German Bionic with a €15m investment debt: Learn more

Germany’s Bionic, a robotic company based in Augsburg, announced on Wednesday, December 21, that it has secured €15 million in risk debt loan from the European Investment Bank (EIB), backed by the European Union’s new InvestEU programme.

The German company says it will use the money for its research and development activities.

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German Bionic
Image credits: German Bionic

German Bionic: What you need to know

Founded by Armin J. Schmidt, Ph.D. Michael Halbehr, Dr. German Bionic It is a German robotics company that develops and manufactures smart power suits.

Dubbed Cray X, the suits help logistics and care workers perform physically demanding tasks like lifting and carrying heavy loads.

Cray X uses self-learning powered by artificial intelligence (AI) To support lifting movements and prevent poor posture.

In addition, the exoskeleton provides convenient real-time data during the working day to protect health and reduce accident risks, thus improving workflow.

The suit currently provides up to 30kg of lifting support and is suitable for outdoor use.

“Our smart power suits protect workers who perform heavy manual labor daily to complete critical tasks from burnout and accidents. They provide mechanical support for lifting and carrying and use an intelligent assistance system to warn users if they are lifting incorrectly or if they should take a break. This leads to less time off work due to burnout or illness, happier employees, and better results.”We view this as a positive for society and hope to benefit from it further through our technology,” says Armin J. Schmidt, CEO and co-founder of German Bionic.

Cray X was recently awarded Best Innovation in the Wearable Technology category at CES 2023.

The company has offices in Augsburg, Berlin, Boston and Tokyo.

European Investment Bank: What you need to know

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its member states.

The main priorities of the EIB are:

  • climate and environment.
  • development
  • Innovation and skills.
  • Small and medium companies.
  • Infrastructure and coherence.

The EIB supports innovative and sustainable advanced technology developed and manufactured in the European Union. The project will help consolidate Europe’s leading position in the industrial exoskeleton market in terms of technological competitiveness and business opportunities while maintaining and creating high-skilled jobs. EIB Vice President Ambroise Fayol, responsible for activities in Germany, said, “We are delighted to support this European success story.

European Commissioner Paolo Gentiloni adds, “InvestEU plays an important role across Europe in helping companies access the financing they need for advanced research and development. This agreement is an excellent example of InvestEU directing funding to support research that will allow Europe to maintain its position as a world leader in the development of innovative products with positive real-world applications.”

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