MyoSwiss has closed a successful financing round, raising a total of 2.2 million Swiss francs in the process, as per an article appearing on startupticker.ch. The financing round featured both existing investors in addition to a new investor in the shape of the South Korean robotics firm T-Robotics.
MyoSwiss was founded as a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH). The company is focusing on the development of Myosuit, which is a suit comprising artificial muscles. This combines robotics technology with functional textiles. It is designed to offer support to people living with disabilities that restrict their mobility during their daily activities, for example when standing up, sitting down or walking around.
The start-up is now setting its sights on using this fresh injection of capital to drive forward business development and accelerate market entry. “We appreciate the support and investment of our existing and new investors. The partnership with T-Robotics is fascinating and we see great value from their expertise in robotics”, comments Jaime Duarte, CEO of MyoSwiss.