Robotics Specialist German Bionic Receives US $20 Million in Series A Financing AUGSBURG, Germany, Dec. 14, 2020 /PRNewswire/ -- German Bionic, the global market leader for robotic exoskeletons, today announced it has closed US $20 million in Series A financing. The round was led by Samsung Catalyst Fund and MIG AG with participation from Storm Ventures, Benhamou Global Ventures, and IT Farm. The financing round will enable German Bionic to expand its market and technology leadership for connected exoskeletons as well as ramp up development of its unique cloud robotics platform. German Bionic's Cray X is the world's first connected exoskeleton for industrial use. By connecting it to any Smart Factory, the suit helps to boost worker productivity as well as health and safety. The smart, self-learning power suit reinforces lifting movements and prevents improper exertion and excessive strain, thus reducing the risk of developing musculoskeletal disorders in the lower back. Based on data, the Cray X is also proven to reduce the risk of accidents while simultaneously increasing worker efficiency and productivity significantly. Leading analysts estimate the global market for exoskeletons will grow to over US $20 billion by 2030.