Hypershell Secures $70 Million in Pre-B and B Rounds, Nearing $400 Million Valuation
Want to read in a language you're more familiar with?
Hypershell raises $70M to push consumer exoskeletons into the global mainstream, accelerating a future where technology amplifies human mobility — not replaces it.
Waves has learned that consumer exoskeleton startup Hypershell recently closed $70 million across its Pre-B and B rounds within just a few months, pushing its post-money valuation close to $400 million. The B round was co-led by Photon Venture Capital and Source Code Capital, with Meituan DragonBall participating. The Pre-B round was led by Monolith, with continued investment from Source Code Capital. Gaohang Capital served as the exclusive financial advisor.
Founded in late 2021, Hypershell is the first company globally to bring exoskeleton technology out of medical and industrial settings and into the consumer market. Founder Sun Kuan brings deep experience in robotic hardware, exoskeleton research, and global hardware branding. The team includes top engineers and researchers across robotics, human–machine ergonomics, and AI.
Hypershell's key breakthrough came in 2023, when the company unveiled the world's first single-motor exoskeleton system and introduced its patented Omega architecture, dramatically reducing the cost and weight of exoskeletons and making them viable at mass-market price points. Its Hypershell Go product became a major hit on Kickstarter, attracting more than 2,600 backers and ranking among the platform's Best Sellers of the year.
Since then, the company has continued to refine its products and validate large-scale manufacturing. Hypershell launched its outdoor-focused X Series, culminating in the latest Hypershell X Ultra, which integrates a second-generation AI intent-recognition algorithm. With optimized power and algorithms, the device delivers 2.5× longer battery life and is the first consumer-grade exoskeleton to receive SGS certification. Hypershell products are now sold in more than 70 countries, with tens of thousands of units shipped.
Commercially, the company follows a go-to-market path similar to DJI and Bambu Lab: prioritizing overseas markets first before expanding domestically. Hypershell officially entered the Chinese market in 2024 through trendy retail channels such as drivepro.
Sun Kuan noted that exoskeletons represent a "long-cycle, heavy-infrastructure business," and the new funding will be dedicated to R&D, supply chain capacity, and global expansion, alongside ongoing recruitment of top engineering and product talent. The company now has around 200 employees across Shenzhen and Shanghai.
As competition intensifies in the consumer exoskeleton space, Sun emphasized that the real moat lies in becoming a "hexagonal warrior"—combining excellence in research, product development, mass production, and global commercialization. He added that Hypershell's mission is not to replace people, but to "enhance human mobility through technology and strengthen the connection between people and the world."
