WIRobotics Secures KRW 13 Billion in Series A for Wearable Robot Innovation
South Korean wearable robot startup WIRobotics has secured a Series A funding round amounting to KRW 13 billion. The round was led by Intervest and saw participation from GU Equity Partners, JB Investment, COMPANY K PARTNERS, Hana Ventures, and FuturePlay.
Established in 2021, WIRobotics has rapidly progressed from securing a pre-Series A investment of KRW 4 billion last year to launching its initial product, WIBS—a non-powered back support wearable robot for workers.
This February, the company expanded its product line with the introduction of WIM, a walking assist wearable robot aimed at the B2B market. Notably, WIM has been recognized for its innovation, winning awards in both the ‘Robotics’ and ‘Accessibility & Aging Tech’ categories at CES 2024.
In a strategic move to introduce WIM to a broader audience, WIRobotics unveiled the product at CES 2024 and commenced B2B sales in February. In March, ahead of its B2C launch, the company inaugurated a ‘WIM Walking Exercise Center’ near Olympic Park, enabling the public to experience their wearable robots firsthand. Plans are in place to launch an enhanced B2C product in April, targeting the general consumer with improved convenience and functionality.
Yeonbaek Lee, co-CEO of WIRobotics, expressed enthusiasm about the company’s direction following the investment: “This funding enables us to intensify our marketing and sales efforts. Our goal is to make WIRobotics’ products the first wearable robots people encounter in their everyday lives, aligning with our slogan, ‘My First-Ever Robot’. We are also focusing on bolstering our logistics and customer service infrastructure to fully support the B2C product launch.”
Yongjae Kim, co-CEO and CTO, shared his outlook on the technological advancements enabled by the investment: “This financial backing is expected to accelerate our research in advanced technology development. WIRobotics boasts significant expertise and a track record in a range of robotics technologies, including wearable robots, collaborative robots, surgical robots, robot hands, and humanoid robots. We are committed to leveraging this investment to diversify and enrich our product portfolio through ambitious research and development in advanced technologies.”
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