Earlier this week Exosystems, a startup which develops wearable rehab solutions, received 300 million won (USD $268k) in investment from K Cube Ventures.
It’s the second round of funding for the company, following 200 million in capital from SparkLabs Global and financial support from the Small & Medium Business Corporation earlier this year.
Exosystems was founded in January by researchers studying robotics from the Electronics and Telecommunications Research Institute. With experience developing wearable technology that uses motion-recognition, the team aims to apply its expertise to help those suffering from joint problems through cutting-edge rehabilitation solutions.
The company is currently working on creating a product called the ‘ExoRehab’, which helps joint problem sufferers through both robotics and gamification. The wearable robotic device recognizes motion from the user and automatically adjusts the amount of strength it applies for effective support and training. The idea is to make rehab something that is somewhat fun and can be carried out anywhere, with the goal of helping patients get better faster.
ExoSystems taking part at a startup competition last year.
Rehabilitation robotics have had a hard time catching on due to the high price involved. On top of this, motion-camera based rehab solutions have lacked precision in measuring joint angles and have been unable to provide accurate results. ExoRehab hopes to counter these problems by offering more reliable technology at a competitive price compared to other devices on the market.
“As health care continues to develop, paradigms for rehabilitation therapy are naturally being challenged,” says CEO Hooman Lee. “We will improve the quality of life for rehabilitation patients by developing innovative rehabilitation training devices.”
Exosystems is currently focusing all its resources on developing the ExoRehab, with plans to launch its product in the first half of next year. According to investor K Cube Ventures, its’s expected that the demand for robotic technology will increase, as it becomes used not only in the medical field, but many different industries.
