Wandercraft Secures $75M in Series D Funding, Partners with Renault for Industrial Robotics

Wandercraft, a leading exoskeleton developer, has raised $75 million in a Series D funding round, marking a significant milestone in the company's growth trajectory. The funding announcement comes on the heels of a strategic partnership with French automotive giant Renault Group, signaling Wandercraft's expansion beyond medical applications into industrial robotics.

Funding Details and Strategic Partnership

The New York City-based company's latest financing round comprises a mix of equity and debt, with notable participants including Renault Group, Teampact Ventures, Quadrant Management, and the PSIM fund managed by Bpifrance on behalf of France. This influx of capital is earmarked to accelerate the clinical adoption of Wandercraft's powered exosuits for rehabilitation and mobility, while also bolstering its nascent industrial programs.

Renault Group has secured a minority stake in Wandercraft as part of a collaborative effort to develop a family of robots for automotive production lines. This partnership leverages Wandercraft's expertise in exoskeletons and robotics alongside Renault's industrial capacity and design-to-cost knowledge, aiming to scale up robot production for manufacturing applications.

Expanding Product Portfolio

Wandercraft's product lineup spans both clinical and personal use cases, with plans to enter the industrial sector:

Medical Devices

The FDA-cleared Atalante X device is designed for clinical settings, aiding in rehabilitation and gait exercises for adults with paralysis, spinal cord injuries, or those recovering from strokes and brain injuries.

Personal Mobility

Eve, Wandercraft's personal exoskeleton, is currently undergoing commercialization preparations. This self-balancing system aims to assist individuals with severe mobility disabilities in performing upright motions such as standing, bending, and walking, with the goal of enhancing independence at home and in community settings.

Industrial Applications

Through its partnership with Renault, Wandercraft is developing the Calvin-40 humanoid robot. This initiative aims to automate specific tasks in automotive manufacturing, allowing human workers to focus on higher-value activities and reducing ergonomic strain.

Clinical Trials and Future Outlook

Wandercraft is currently enrolling participants for a pivotal clinical trial of the Eve system, underlining the company's commitment to evidence-based product development. The exoskeleton technology has already gained recognition, featuring in the 2024 Olympic and Paralympic Games torch relay.

Matthieu Masselin, co-founder and CEO of Wandercraft, expressed optimism about the company's trajectory: "The momentum we've achieved over the past few years is extraordinary. 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."

As Wandercraft continues to innovate across medical, personal, and industrial applications, the recent funding and strategic partnership position the company at the forefront of exoskeleton and robotics technology, with potential to significantly impact mobility solutions and manufacturing processes in the years to come.