Verve Motion, a startup dedicated to developing a robotic “exosuit” designed to assist workers in completing physically demanding tasks in various work environments, has successfully secured $20 million in a Series B funding round. Safar Partners led the funding round, with participation from Cybernetix Ventures, Construct Capital, Pillar VC, OUP, and angel investors, including Frederic Kerrest, the co-founder of Okta.
This recent injection of funds, bringing Verve’s total raised capital to $40 million, will be utilized to expand the company’s market presence and enhance its manufacturing capabilities, as stated by Verve’s co-founder and CEO, Ignacio Galiana, in an email interview with TechCrunch.
Galiana highlighted Verve’s innovative approach, stating, “Verve is pioneering a new class of connected wearable technology for the industrial sector by integrating robotics into functional apparel.” Emphasizing the relatively nascent nature of the wearable robotics industry, he acknowledged the challenges of creating awareness and demonstrating the compelling need for such technology in workplaces.
Verve’s roots trace back to the biodesign lab at Harvard’s Wyss Institute and School of Engineering and Applied Sciences. Initially developed as part of a DARPA-funded initiative, the technology aimed to reduce fatigue and injury risks for military personnel tasked with lifting heavy loads. Recognizing broader applications, Galiana launched Verve in 2020 to bring the technology to industrial, retail, and manufacturing settings.
Galiana positioned Verve’s powered exosuit as a customizable solution for workers, designed to be worn like a regular backpack. Equipped with sensors, the exosuit automatically captures risky movements and productivity metrics, addressing issues such as overexertion, injuries, fatigue, and lost productivity.
The threefold selling points of the exosuit, according to Galiana, are risk mitigation, productivity enhancement, and practicality compared to passive alternatives or bulkier, rigid exoskeleton designs. He noted that reducing injuries and fatigue benefits both the workforce and the C-Suite level manager, leading to a happier and healthier workforce, decreased compensation payouts, and improved talent retention.
Despite potential concerns regarding cost and privacy, Verve has sold around 1,000 exosuits to date and initiated pilot programs with major chains like Albertsons and Wegmans. Galiana acknowledged the challenge of conveying the goal to create a safer and more efficient future for industrial workers, expressing optimism about a future where wearable robotic technology seamlessly integrates into everyday work attire.
