- Wandercraft is receiving €25 million in financing from the EIB.
- The financing will help accelerate the development of Wandercraft’s Personal Exoskeleton, the first and only self-balancing exoskeleton designed for everyday use.
- The deal will benefit from a guarantee under the European Commission’s InvestEU programme.
French medtech company Wandercraft is receiving €25 million from the European Investment Bank (EIB) to develop their new Personal Exoskeleton, the first and only self-balancing exoskeleton designed for everyday use by individuals with severe mobility impairments.
The funding will also be used to accelerate patient access to Atalante X, the world’s first self-balancing robot designed for use by patients in rehabilitation and marketed by Wandercraft since 2019. Atalante X is now used in nearly 100 rehabilitation institutions and clinical research centres across Europe and the United States. Atalante X has been evaluated with hundreds of patients around the world, including clinical trials and real-world evidence.
EIB Vice-President Ambroise Fayolle said: “Wandercraft’s exoskeletons have the potential to forever change the lives of people with walking impairments. We are proud to support emerging innovations in the healthcare sector and enhance the quality of life and welfare of patients on a global scale.”
CEO of Wandercraft Matthieu Masselin added: “At Wandercraft, our focus is on improving patient outcomes and creating a world where everyone can stand up and walk. From restoring a parent's ability to walk their child down the aisle to the simple act of standing and shaking hands after a meeting, we are eager to provide patients with the full range of experiences that life has to offer. This commitment from the EIB allows us to further accelerate our already rapid advancement in achieving this mission and furthers our ability to impact more people faster than ever.”
In 13 December 2023, Wandercraft received confirmation from the United States Food and Drug Administration (FDA) that Atalante X had been cleared for use by individuals with spinal cord injuries at levels T5 to L5. This follows Atalante X’s previous clearance for use with stroke patients, making it one of the few FDA-cleared exoskeletons on the market today, and the only FDA-cleared exoskeleton with a powered ankle mechanism that mimics a natural human gait.
The EIB’s new €25 million loan benefits from a guarantee under the European Commission’s InvestEU programme.
Background information
About the European Investment Bank
The mission of the European Investment Bank (EIB) is to contribute to the integration, balanced development and economic and social cohesion of the European Union. It borrows large volumes of funds on the capital markets and lends them on very favourable terms to support projects furthering EU policy objectives. The EIB is working to put the European Union at the forefront of the next wave of innovation, especially in the health sector. As the EU climate bank, the EIB is one of the main providers of finance in the green transition towards a more sustainable, low-carbon growth model.
About InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union's policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
About Wandercraft
Wandercraft is a global manufacturer developing and marketing advanced robotic solutions to enable people with walking impairments to stand up and walk again. The company has used its engineering expertise to design Atalante X, the world's first self-balancing walking exoskeleton that emulates human walking and provides hands-free multi-directional locomotion. Atalante X is already used by many hospitals and healthcare facilities in Europe and the United States. Several different walking programmes are designed to support rehabilitation and greater independence.
