Human in Motion Robotics Inc., a Vancouver-based human-centred robotics company, has raised US$10M in Series A funding. This includes US$8M coming as part of a strategic partnership from Beno Holdings, a Korean firm focused on technology investments.
HMR is a prominent robotics company specializing in developing advanced human-centric wearable robotic technologies. The Canadian company focuses on enhancing human mobility, providing innovative solutions in industries ranging from healthcare to manufacturing.
Human-centred robotics is an exciting field that places a strong emphasis on designing and developing robots with a keen focus on human needs, interactions, and experiences. By focusing on human-centric designs, HMR aims to create robotic technologies that can seamlessly augment human abilities, whether it’s to enhance the performance of workers in industrial settings or to assist people with mobility impairments.
The company’s Co-founder & CEO Dr.Siamak Arzanpour, says HMR plans to harness this new funding to accelerate research and development efforts. Moreover, the company will use the funds to expand its production capabilities and drive market penetration.
“We are incredibly grateful for the recognition and support from Beno Holdings. Their investment and strategic partnership will enable us to accelerate our commercialization efforts and further solidify our position as a leader in the field of robotics. We are excited about the opportunities that lie ahead and the positive impact we can create together. This collaboration represents a major leap forward in our journey to revolutionize exoskeleton technology.”
Dr. Edward Park, Co-founder and COO at HMR
Also read: VEERUM’s digital twin software tech gets CA$9.3M for growth
Human-centred robotics and AI startups continue to build excitement
The global robotics and artificial intelligence market continues to attract significant investment. This is especially true for companies developing robots or AI. HMR joins other companies in the robotics industry like Diligent Robotics and Einride AB that have raised significant funds in their respective rounds.
In addition, HMR is another example of a company working to bridge the gap between humans and machines. Last week, we wrote about Elon Musk’s Neuralink, which is attempting to enable a direct connection between the human brain and computers. Advancements by such companies can potentially revolutionize the way humans interact with technology.
As per Crunchbase, HMR was founded in 2016 and has raised a couple of seed rounds in 2018 and 2020. The latest round brings the total funding raised by the company till date to US$13M.
In 2022, HMR was also awarded a US$663,000 CAD contract by Innovative Solutions Canada (ISC) for the Department of National Defence Canada (DND). The contract enabled the Canadian government to acquire two units of HMR’s next-generation lower-limb exoskeleton, XoMotion. Designed as a wearable robot, XoMotion aims to empower individuals to move beyond wheelchairs and regain full mobility and independence.
The company was also one of ten recipients of Global Mobility Award by Toyota Mobility Foundation in 2018. As per Tracxn data, Wandercraft (France), Myomo (US), and H.Robotics (South Korea) are other prominent startups in this domain.
