Verve Motion Raises $20 Million in Series B Financing
Verve Motion, a spinout from Harvard University focused on developing a robotic “exosuit” to offer physical assistance to workers in industrial settings, has concluded its Series B funding round, securing $20 million.
The round was spearheaded by Safar Partners and saw participation from Cybernetix Ventures, Construct Capital, Pillar VC, OUP, and angel investors, notably including Frederic Kerrest, co-founder of Okta.
With this latest injection of funds, Verve’s total financing surpasses $40 million. The company intends to utilize this capital to support its global expansion efforts and drive adoption of its SafeLift exosuit.
Verve emphasizes that the Series B round will be instrumental in scaling up the manufacturing of its exosuit. Marketed as the “world’s first soft exosuit,” the SafeLift exosuit offers tailored and adaptive assistance personalized for individual workers and their specific tasks.
The exosuit’s design integrates real-time motion sensors capable of identifying potentially harmful movements like overexertion or twisting. It provides robotic assistance to mitigate these risks whenever such motions are detected.
Verve stated that its exosuits are presently in use across various sectors, spanning grocery, package distribution, third-party logistics, retail, supply chain distribution, and manufacturing.
The development of SafeLift originated at the Biodesign Lab within Harvard’s John A. Paulson School of Engineering and Applied Sciences. Researchers there crafted a soft exosuit aimed at reducing injury risks for military personnel.
This endeavor has received backing from entities such as the Defense Advanced Research Projects Agency (DARPA), the National Science Foundation, and the National Institutes of Health.
