Berlin - SMP has advised the Augsburg-based robotics company German Bionic in its latest round of financing. Within the framework of the Series A further internationally renowned technology venture capital fund such as MIG, Storm Ventures, Benhamou Global Ventures and IT Farm invested in the company alongside Samsung Catalyst Fund. The German world market leader in robotic exoskeletons raised around 20 million US dollars in growth capital. German Bionic has already established itself on the German and Japanese markets with its intelligent Cray X power suit. According to the company, the capital raised in the financing round will be used for further international expansion. Comprehensive legal advice was provided to German Bionic by a team led by SMP partner Benjamin Ullrich.
"German Bionic's Robotics-as-a-service solutions enable people and technology to work hand in hand. Productivity and efficiency are increased and the health of workers is protected" says SMP partner Benjamin Ullrich "It is fantastic to see that also in the current environment hardware start-ups with intelligent technology solutions for the industry are also able to obtain large-volume financing with the participation of outstanding international investors".
The intelligent power suit Cray X combines human intelligence with mechanical power by actively supporting or reinforcing movements, thus reducing the risk of occupational accidents and overload-related illnesses. German Bionic, with headquarters in Augsburg and subsidiaries in Berlin and Tokyo, is the first European manufacturer to mass-produce the novel robots worn directly on the body and the first company in the world to offer Robotics-as-a-Service (RaaS) for exoskeletons.
The Samsung Catalyst Fund is the multi-phase investor and strategic venture capital arm of Samsung Electronics, investing in the digital data industry and strategic ideas for Samsung's device solutions, mobile communications and consumer electronics. The portfolio of the Samsung Catalyst Fund covers the areas of mobile & cloud services, deeptech infrastructure, biotechnology as well as data security and privacy. Start-ups in which the Catalyst Fund invests benefit from Samsung's global brand, manufacturing and distribution, expertise, recruitment network and advice from world-class innovation experts.
MIG AG is one of the leading German VC investors with more than EUR 1.0 billion assets under management. Through the MIG funds, young companies are provided with the financial means for early-stage and growth financing in the areas of deep-tech and life science. Over the past six years, MIG AG has successfully sold its portfolio companies SuppreMol (to Baxter International, 2015), sunhill technologies (Volkswagen, 2015), Ganymed (Astellas Pharma, 2016) and SILTECTRA (Infineon, 2018) and placed several companies on the stock exchange, including BRAIN (2017), NFON (2018), BioNTech (2019) and Immatics (2020). Currently, the MIG investment portfolio consists of 28 companies.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.