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Rex Bionics, the New Zealand company that launched a robotic exoskeleton to enable wheelchair users to stand and walk in July this year, has received further TechNZ investment of $1.63 million to build a second version.

The funding from TechNZ, the business investment arm of the Foundation for Research, Science and Technology, is being matched by the company.

Foundation group manager of manufacturing & high-growth firms Richard Bentley, says it is crucial that innovative firms such as Rex Bionics stay ahead of their competition.

โ€œSustained and strategic investment will give this very promising company the best chance to maintain market leadership.

โ€œBy committing to R&D and matching our funding, Rex Bionics will be able to keep one team on board to work on Rex Version 1 while a new team works exclusively on Rex 2 to get it to the market faster.

โ€œThis means Rex Bionics will be ready to leap-frog any competition in the market, with their new version,โ€ Mr Bentley says.

Rex Bionics chief executive officer, Jenny Morel, says the R&D project will further develop and improve on the first version. This has received international recognition for its innovative design and for the life-style and wellbeing benefits it promises for users.

Wheelchair users transfer themselves from their chair into Rex, strap themselves in and control their movements using a joystick and control pad. The robotic exoskeleton is powered by a long-life rechargeable battery and is built entirely at the companyโ€™s Auckland premises.

Rex Bionics was awarded TechNZ funding of $1,115,587 in 2008 to build the first Rex version, which it launched in New Zealand on 15 July. The company received earlier TechNZ funding of close to $111,000 in 2007 and has also received significant investment from shareholders, led by No 8 Ventures, over the seven year R&D period.

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