Robotics focused developer Superflex has raised $10.2 million in a new round of equity financing, according to an SEC filing posted this week.
Superflex is a spin-off of research group SRI International which is focused on developing wearable robotics designed to enhance the human musculoskeletal system.
The company’s technology is based on the DARPA-funded “Warrior Web” program which looked to improve soldier performance while reducing injury risk and increasing carrying capacity of soldiers, the Menlo Park, Calif.-based company said.
Money in the round came from 10 unnamed investors, with the 1st sale recorded as taking place on Nov. 14, 2016. The company is looking to bring in $1 million more during the round, according to an SEC filing.
The company has not yet stated how it intends to use funds raised in the round.
Superflex’s initial development will be Powered Clothing, designed to be worn under outfits with integrated electric “muscles” that add intelligent, wearable strength for individuals including those with a wide range of physical disabilities.
The company will focus on the aging market initially, though said that the same technology could hold potential applications in sports and recreational markets.
Superflex said its initial project will be a powered suit designed for individuals experiencing mobility difficulties and working in challenging environments to support the wearer’s torso, hips and legs. The suit will be designed to react to the body’s natural movements to provide powered lift in complement of an individual’s own strength, according to a press release.