Growth loan to propel Auxivo to the next level

ETH Zurich spinoff Auxivo has grown to become a leading exoskeleton company offering wearable exoskeletons to support workers executing physically demanding tasks, thus enhancing worker safety and well-being. Since launching its first product (LiftSuit) in 2020, the company has added three new products to its portfolio – DeltaSuit, CarrySuit and OmniSuit featuring Auxivo's signature hybrid frame and proven EES energy recuperation system. Additionally, the startup has introduced EduExo, an educational exoskeleton to empower students, educators, and researchers to include exoskeleton technology in STEM classrooms.

The company’s products are currently available on several continents through a network of around 30 distribution partners and direct sales teams in several European countries. To strengthen its position in the European market and to be closer to customers in this market, the startup plans to establish a European subsidiary in Germany.

While the exact figures remain undisclosed, Auxivo has reported strong growth resulting from its sales activities, underscoring the continued trust from thousands of customers using its products in different industries including logistics, manufacturing, construction, agriculture, and related markets.

Auxivo, which currently boasts a team of 20 employees, has recently secured a growth loan from an undisclosed Swiss bank, providing the company with capital to finance its capital needs as it pursues further expansion. Unlike previous instances where the company sought funds to finance innovation or develop new products, this loan is specifically aimed at supporting its capital needs as it experiences rapid increases in sales volume. Investing substantially in additional inventory is currently essential, revealed Volker Bartenbach, co-founder, and CEO of Auxivo.

(RAN)