Roam Robotics Secures $12 Million Investment Led by Yamaha Motor
SAN FRANCISCO--(BUSINESS WIRE)--Nov 29, 2018--Roam Robotics, a company building robotic exoskeletons to enhance strength, speed and endurance for everyday people as they live, work and play, today announced it has completed a $12 million Series A round of funding.
Yamaha Motor Co., Ltd. led the investment round with participation from existing and new investors Boost VC, Heuristics Capital Partners, Menlo Ventures, R7 Partners, Spero Ventures, Valor Equity Partners, and Venture Investment Associates. Collectively these investors bring a wealth of experience in robotics, hardware, and consumer startups.
“Roam exists to change the boundaries of human mobility,” said Roam Founder and Chief Executive Officer Tim Swift. “That boundary is different for every person, but they exist for everyone. Whether you are an Olympian, an everyday athlete, or looking to regain lost mobility, we want to power you beyond what your body currently makes possible.”
To make this possible, Roam will leverage their unique platform technology that relies on high-strength fabrics and air power to reduce device weight and cost without sacrificing performance. It avoids high-tolerance metal components in favor of affordable mass manufacturing processes like sewing and molding. They are using this platform to develop products to make more mobile lives a reality for everyday consumers.
“Roam is creating an exciting new category of products that enhance human capabilities,” said Amish Parashar, Partner at Yamaha Motor Ventures. “By making these robotic exoskeletons affordable, scalable, and powerful Roam has removed the biggest barriers to widespread adoption. We envision these products will one day be commonly used to create new thrilling experiences and support human mobility.”
Roam’s first step on this path is the release of their first product — ELEVATE, a robotic exoskeleton designed to boost a user’s skiing experience. ELEVATE boosts your quad strength giving you more control, stronger turns and longer runs while reducing muscle fatigue and joint pressure. It can augment the experience for skiers looking to push the edges of what’s possible, and for those looking to maintain the experience from their younger years. ELEVATE will be available this winter for demo rentals in the Lake Tahoe, CA area and Park City, UT. Check out how you can be a part of this by visiting www.roamrobotics.com.
“We are extremely proud to bring ELEVATE to market, but this is only the first step,” added Swift. “We are just scratching the surface of what is possible.”
About Roam Robotics
Roam builds robotic exoskeletons to enhance strength, speed, and endurance for everyday people. We’ve created light, affordable robotic exoskeletons that are designed for everyday life. Whether you ski, walk, run or hike, our products make it easier to move so you can get the most out of life. The company incorporated in December 2013 after launching out of Otherlab, the San Francisco-based collection of scientists and inventors working on a range of projects in the robotics, renewable energy, digital manufacturing, transportation, and educational markets. For more information on Roam, please visit http://www.roamrobotics.com.
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CONTACT: Tim Smith
Element Public Relations
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: SENIORS WOMEN OUTDOORS TECHNOLOGY HARDWARE OTHER TECHNOLOGY SKIING/SNOWBOARDING CONSUMER SPORTS MEN
SOURCE: Roam Robotics
Copyright Business Wire 2018.
PUB: 11/29/2018 07:00 AM/DISC: 11/29/2018 07:01 AM