Exoskeleton Tech Startup HeroWear Raises $5 Million in Series-A Funding to Accelerate Growth

Nashville-based occupational exoskeleton technology company closes deals with two venture capital firms to further R&D and innovation

NASHVILLE, Tenn.--(BUSINESS WIRE)--HeroWear, a private startup specializing in occupational exosuit solutions, announced $5 million of Series-A funding from venture capital investor White Road Investments, partnering with Engage to accelerate their work with top enterprises. HeroWear plans to utilize the funds to advance product development and expand its team to continue to deliver high-quality client service and onsite training for the growing install base of its Apex 2 exosuit.

Founded in 2019, HeroWear has experienced rapid growth, with the company’s revenue doubling each year while also being recognized on Inc.’s 2024 Best in Business list for innovation and technology. Overexertion can cost workers their health and cost companies billions of dollars each year. The exosuit manufacturer aims to improve the quality of life of workers around the world, helping to reduce fatigue and discomfort through the deployment of occupational exosuits across industries, including logistics, manufacturing, warehousing, food & beverage, retail, and more. The Government Accountability Office (GAO) recently called for OSHA to address overexertion concerns and improve standards around ergonomics to prevent lifelong musculoskeletal disorders (MSDs).

HeroWear’s Apex 2 exosuit is one of the most scientifically and academically validated on the market. Elastic bands in the exosuit serve as an extra set of back muscles to assist workers who lift and bend repetitively, reducing strain by 20-40%. A recent study of exosuit users through more than 281,000 hours of work shows the exosuit reduced back injuries to zero. Another study uncovered an 8% improvement in worker productivity while workers reported a 30% decrease in work-related discomfort and a 40% reduction in fatigue.

“I am excited about the opportunity to bring in two new capital partners who enable us to further our mission of helping workers across the world live happier, healthier lives,” says HeroWear Chief Executive Officer and Co-Founder Mark Harris. “Through our partnership with Engage and White Road Investments, we look forward to accelerating our growth and expanding our sales and services teams to keep up with the demand we’ve seen in the market.”

Engage is a collaborative innovation and corporate venture program backed by 14 industry-leading enterprises and Georgia Tech. Their partners include Chick-fil-A, The Coca-Cola Company, Cox Enterprises, Delta Air Lines, Georgia-Pacific, Georgia Power Foundation, Georgia Tech, Goldman Sachs, The Home Depot, Inspire Brands, Intercontinental Exchange, Invesco, RaceTrac, Tech Square Ventures, Unum, UPS, and Wellstar.

“We are thrilled to bring HeroWear into our program,” says Engage Partner Bill Nussey. “They are making waves in the wearable safety technology space, and we are excited to be a part of the journey.”

White Road Investments was founded to invest in businesses that create lasting impact based on the five aspirations for the people, planet, communities, businesses, and brands they serve.

“We were drawn to HeroWear’s team, market-leading technology, and elegant product solution,” says Jason Winship, White Road’s Managing Partner. “Our team believes that the HeroWear exosuit has the potential to dramatically improve customers’ lives by reducing back strain in the workplace, and we look forward to partnering with the company in its next phase of growth.”

To learn more about HeroWear’s mission, visit www.HeroWearExo.com.

About HeroWear

HeroWear is a wearable technology company that provides exosuit solutions to reduce injury risk, improve quality of life, and boost productivity for workers in physically demanding jobs across the globe. Born in Vanderbilt University labs, HeroWear's customizable exosuits help thousands of workers in industries including logistics, manufacturing, warehousing, food & beverage, retail, and more. To learn more and see the science behind the suit, visit HeroWearExo.com.