WeRobotics Secures 4 Billion KRW in Pre-Series A Funding Successfully

[(From left) Co-CEOs of Wirobotics Co., Ltd. Kim Yongjae, Lee Yeonbaek / Provided by Wirobotics Co., Ltd.]

Wirobotics (Co-CEOs Yeonbaek Lee and Yongjae Kim, Professor at Korea University of Technology and Education) announced that it has successfully raised 4 billion KRW in pre-Series A funding.

Founded in August 2021, Wirobotics is a wearable robot development startup established by key personnel who led robot development at Samsung Electronics, including Co-CEO Yeonbaek Lee from Samsung Electronics Robot Center, CFO Changhyun Noh, COO Byungjun Choi, and Professor Yongjae Kim from Korea University of Technology and Education. This year, the company unveiled the ultra-lightweight wearable robot for workers, WIBS (We Innovate Back Support), at the international consumer electronics show CES 2023.

This funding round follows the seed investment from FuturePlay in October 2021, the company's first year, and additional investments over two years from InterVest, Korea Credit Guarantee Fund, FuturePlay, and Navion. The investment will be used for the development, operations, and marketing activities of the 1.4kg ultra-lightweight walking-assist wearable robot ‘WIM (We Innovate Mobility)’, scheduled for release this year. The company also plans to focus on hiring development and operational personnel to ensure a swift launch.

Co-CEO Yeonbaek Lee of Wirobotics said, “Since unveiling the ultra-lightweight wearable robot WIBS for workers at CES 2023, we have received numerous inquiries from various industries including construction, manufacturing, logistics, and defense. The greatest feature of Wirobotics’ wearable robot products is their excellent usability and wearability. We believe the main reason for the positive market response is our user-centered research and development focusing on usability and wearability, which have been the biggest obstacles to the popularization of wearable robots.”

He added, “While the wearable robot for workers has been well received, the product that truly showcases the essence of Wirobotics’ wearable robot technology is the soon-to-be-released wearable robot ‘WIM’. WIM is a wearable robot that helps make ‘walking’, the foundation of daily activities, comfortable and efficient, enabling all generations to enjoy an active life and exercise together.”

Co-CEO Yongjae Kim (Professor at Korea University of Technology and Education) stated, “Despite the recent economic downturn, we are pleased to have secured investment exceeding our expectations, which recognizes Wirobotics’ technological capabilities. Wirobotics is conducting research and development under the principle of interactive robotics, where humans and robots interact safely. Going forward, Wirobotics will continue to develop robot technology that assists and coexists with humans rather than replacing them, and plans to introduce lighter, more comfortable, and easier-to-use wearable robot products.”