Hypershell, a Sequoia-backed Chinese maker of consumer exoskeletons used for hiking and work support, has raised $70 million in its combined pre-B and Series B funding rounds that valued the company at close to $400 million post-money.
The Series B was co-led by Photosynthesis Venture Capital (Guanghe Chuangtou) and 5Y Capital, with Meituan’s venture unit DragonBall Capital participating, said Hypershell.
The pre-B round was led by Monolith, with 5Y Capital also joining, while existing investors, including IDG Capital, Sequoia China, and Oasis Capital added capital.
Founded in late 2021, Hypershell says it is the first company globally to move exoskeleton technology beyond medical and industrial uses into the consumer market, a category it said was once viewed as impractical.
Its founder, Sun Kuan, has experience in robotic hardware, exoskeleton research, and global hardware branding. The startup’s team comprises engineers and researchers specialising in robotics, human-machine ergonomics, and AI.
The company’s product line includes the Hypershell X series, its first mass-produced product. The device uses a motor with a peak power of up to 800 watts and can offset about 30% of a user’s perceived load, with a typical range of 15 to 17.5 km.
Hypershell raised more than $1 million in backing through a Kickstarter crowdfunding campaign in 2023 and has completed multiple funding rounds since, bringing cumulative fundraising to nearly $100 million.
Sun Kuna said the fresh funding will be dedicated to R&D, supply chain capacity, and global expansion, alongside ongoing recruitment of top engineering and product talent.
Data from VBData show China’s exoskeleton robot market is forecast to reach 4.2 billion yuan ($580 million) in 2025, and grow at a compound annual rate of about 50% between 2023 and 2028.
