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Hypershell, a Chinese company that develops wearable robotic exoskeletons designed to support human movement, has recently secured $50 million in its latest funding round. The investment was led by a major Chinese fintech company and an industry-leading on-demand services firm’s investment fund.
Additional participants in this Series B funding included a Belgian private equity firm and a Singaporean asset management company. An exclusive financial advisory firm for this funding round announced the details today.
The funds are earmarked for advancing Hypershell’s research and development efforts, expanding globally, and exploring new consumer applications. This strategic move aims to strengthen the company’s position as a leader in the worldwide exoskeleton market, according to a Shanghai-based advisory firm.
This latest financing brings Hypershell’s total Series B funding to $120 million, all raised within the past year. The company previously secured $70 million in its pre-Series B and Series B rounds last November. These earlier investments were led by venture capital firms with notable participation from a Beijing-based investment fund. The company’s valuation post-investment neared $400 million.
Founded in 2021, Hypershell is broadening its exoskeleton technology beyond industrial and medical uses to target consumers. Its Hypershell X series is designed for outdoor activities such as hiking and mountain climbing, aiming to lessen physical fatigue while enhancing safety and performance.
The company’s products are currently ranked as the top exoskeletons on a major Chinese e-commerce site and continue to lead sales on Amazon in both the United States and Europe, according to the company.
On May 20, Hypershell plans to introduce an upgraded version of its X series, featuring a new algorithm capable of interpreting users’ intended movements more accurately. This upgrade allows the exoskeleton to adapt dynamically to human motion in real time. Hardware improvements are also part of this new release.
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