Digity secures €1.4 million in seed financing for preventive exoskeleton ARTUS
Göttingen, 9 August 2024 – Digity GmbH, a spin-off of the University Medical Center Göttingen, has announced that it has secured a seed financing round of €1.4 million. The investment is backed by renowned venture capital investors from Lower Saxony and Thuringia and experienced business angels from all over Germany: NBank Capital Beteiligungsgesellschaft, bm-t beteiligungsmanagement thüringen gmbh (bm|t), Life Science Valley Ventures Management GmbH from Göttingen, Mittelständische Beteiligungsgesellschaft Niedersachsen (MBG) mbH from Hanover, business angel Christoph Höynck from Münster and 4SeedImpact Business Angel GmbH from Chemnitz. The funds will be used to increase sales and production capacity for the innovative ARTUS preventive exoskeleton, which aims to improve ergonomics and occupational safety in manual work processes.
Since 2019, the founding team has been working on exoskeletons for the hands to address an unsolved problem: more than 30% of workplace accidents involve the hand. Thanks to the EXIST research transfer programme of the German Federal Ministry for Economic Affairs and Climate Action (BMWK), the team was able to use its scientific findings and prototypes to enter the market. The company was founded in 2023 and is already marketing its first product, ARTUS, a passive exoskeleton that protects the fingers from accidents and from excessive strain on the skin and finger joints. The problem had long remained unsolved, and shortly after its launch ARTUS received the Ergonomics Award 2024 (Ergonomiepreis 2024).
Viola Bartels, a trained orthopaedic technician and managing director, is delighted with the success of the financing round: “At Digity, we believe in the power of our hands – our most important tools in everyday life. Our mission is to keep them healthy, protected and productive at all times. With our technologies, we can for the first time equip hands with rigid – that is, solid – yet freely movable exoskeletons. This seed financing enables us to roll out our product ARTUS on a large scale and continue developing it in parallel.”
“With ARTUS, Digity has developed a unique exoskeleton for the fingers with great potential for use in both industry and logistics, and already has further products in the pipeline. That convinced us,” says Thomas Müller, Investment Manager at NBank Capital.
“Even my father, a window fitter, knew the problem that textile gloves don’t solve. I was all the more excited to see how well the Digity team addresses this issue with its innovative exoskeleton, making an important contribution to prevention in occupational safety. In addition, the founding team has many ties to the Eichsfeld region in Thuringia,” adds Stefan Jahn, Senior Investment Manager at bm|t in Thuringia.
Dr. Martha Smets, Investment Manager at Life Science Valley Ventures, is impressed by the rapid market success: “Digity has managed to bring a strong product with high demand to market in a complex regulatory environment. This is a remarkable milestone in the life sciences, as such early proof of market is rare and is already generating significant economic impact. The early market acceptance and the associated economic success underline the importance of investing in the life sciences and promoting innovation. This strengthens Göttingen as a location for science and business.”
“With our commitment, we want to help this innovative product from Lower Saxony establish itself on the market in the long term and become an indispensable tool in the world of work. We believe in the possibilities that Artus and its technologies offer,” says Fabrizio Mangano, Investment Manager at MBG, explaining the decision.
For the business angels, the founding team was the deciding factor. “In interdisciplinary teams, we develop holistic solutions through open discussion. Seeing how the Digity team interacts with customers, partners and investors on a basis of trust and respect showed strong execution power and a pronounced entrepreneurial mindset. That is what ultimately convinced us,” says Christiane Hoffmann.
Managing director Claudio Garcia is also looking forward to the next steps: “With the know-how and capital, we can now focus fully on our business. The mix of investors is ideal for mastering the next challenges. Alongside internationalisation, the next step is sales to medium-sized and large companies, which usually involve long processes that need to be navigated.”
The exoskeletons are already in use in various industries, whether in the assembly of insulation or on the production lines of automotive and household appliance manufacturers. “Individually tailored trial phases and customised solutions for different requirements are the key to successful implementation, keeping the workforce healthy and productive,” emphasises Viola Bartels.
About Digity GmbH
Digity GmbH is a company in the field of exoskeleton technology. Founded in 2023 as a spin-off of the University Medical Center Göttingen, Digity develops and manufactures innovative solutions to improve ergonomics and occupational safety in various industries. Its first product, ARTUS, is a passive exoskeleton developed specifically for the fingers and has already received several awards.
About NBank Capital
NBank Capital Beteiligungsgesellschaft mbH is a wholly owned subsidiary of NBank and your contact for equity capital in Lower Saxony. The provision of funds from the State of Lower Saxony and the European Regional Development Fund (ERDF) through the NBeteiligungen and NSeed programmes, together with close cooperation with NBank Capital’s partners, offers a wide range of support options.
About bm|t
bm|t, based in Erfurt, is a subsidiary of Thüringer Aufbaubank and the leading address for venture capital financing in Thuringia. bm|t currently manages twelve funds with a total volume of around €445 million, which invest in innovative companies in almost all sectors and at all stages of company development – both in the start-up and in the growth phase – or in company succession situations.
About the Life Science Valley Wachstumsfonds
The early-stage fund for life science technology spin-offs in Lower Saxony aims to harness the local commercial and entrepreneurial potential arising from excellent life science research and technologies. It supports companies in biotechnology, medical technology, digital health, agricultural science and food technology and promotes successful company formation in technological growth areas.
About Mittelständische Beteiligungsgesellschaft (MBG)
MBG Niedersachsen is the independent investment company for small and medium-sized enterprises from Lower Saxony. We invest in the form of open and silent partnerships and are neutral with regard to banks, individuals and sectors – with the state and federal government as risk partners. We have the right financing solution for every company, in every sector, in almost every phase of development. Whatever entrepreneurial challenge you face, our equity financing strengthens your equity base.
About 4SeedImpact
In 4SeedImpact, experienced entrepreneurs and business angels Christiane Hoffmann, Kevin Tost and Rico Lieder have come together to invest in start-ups with capital, expertise and passion. They see themselves as sparring partners for the fast-paced stages that need to be mastered on the way to long-term success.
About Christoph Höynck
As founder and Managing Partner of Pulsar Consulting Group in Münster and Munich, Christoph Höynck has long supported aspiring founders and early-stage start-ups. He already supported Digity as a mentor before it was founded, during the EXIST research transfer.
Read the press release (bm|t, German) (opens in a new window)