Roam Robotics, a San Francisco-based robotic exoskeleton company, has announced that it has raised $12 million in Series A funding. Yamaha Motor Co., Ltd. led this round of funding. New and existing investors Boost VC, Heuristics Capital Partners, Menlo Ventures, R7 Partners, Spero Ventures, Valor Equity Partners, and Venture Investment Associates also participated in this round.
The robotic exoskeletons that Roam Robotics builds are able to enhance the strength, speed, and endurance for its users. Roam is able to reduce device weight and cost without sacrificing performance by tapping into high-strength fabrics and air power. And the company avoids high-tolerance metal components in favor of affordable mass manufacturing processes such as sewing and molding.
“Roam exists to change the boundaries of human mobility,” said Roam Robotics 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.”
In December 2013, Roam Robotics was incorporated after launching out of Otherlab. The company’s first product is known as ELEVATE, which is a robotic skeleton that boosts a user’s ability to ski. ELEVATE is able to boost the quad strength of its users, which provides better control, stronger turns, and long runs while reducing muscle fatigue and joint pressure. ELEVATE is going to be available this winter for rentals in the Lake Tahoe, CA and Park City, UT area.
“Roam is creating an exciting new category of products that enhance human capabilities,” added Yamaha Motor Ventures partner Amish Parashar. “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.”