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INNOPHYS

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Pneumatic powered exoskeletons reducing physical work strain

Tokyo, JapanFounded 2013Health Tech & Medtech
Valuation $100–250M Last recorded · 2020
Headcount <100 Current team size
Total funding $10–50M Disclosed equity funding
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About INNOPHYS

Innophys is a venture company that originated from the Tokyo University of Science, established on December 27, 2013, by Professor Hiroshi Kobayashi. The company's name is derived from "Innovation for Physical Support." Innophys focuses on developing and distributing equipment to solve societal issues, particularly in elderly care, welfare, and specialized industrial sectors.

The company's flagship product is the "Muscle Suit," a wearable exoskeleton that assists with movement and reduces the physical burden on a user's back. The development of the Muscle Suit began in Professor Kobayashi's lab in April 2000. Unlike many competitors that use electric motors, the Muscle Suit is powered by pneumatic artificial muscles (McKibben-type), which contract with compressed air to provide assistive force. This design makes the suit lightweight, safe, and operable without electricity, allowing its use in various environments, including outdoors and around hazardous materials. The first model was sold in October 2014. A significant milestone was the launch of the "Muscle Suit Every" in November 2019, a model that was made lighter and more affordable, expanding the target market from primarily corporate clients to individual consumers. By April 2024, the series had sold over 35,000 units.

Innophys serves a diverse client base across sectors such as nursing care, logistics, manufacturing, agriculture, and construction. The business model involves the development, manufacturing, and distribution of these assistive suits. The company has successfully raised significant capital to fund its growth, including a Series C round of ¥3.53 billion in December 2019. Investors include corporate partners like Bic Camera, Brother Industries, and TIS, as well as financial institutions like Fidelity International. Innophys has also expanded its global presence, opening a representative office in Germany in June 2025 to accelerate business in the growing European market. Recently, on March 6, 2026, the company launched a new product, the "Muscle Suit PRO INSOLE," a functional insole designed to support the feet during long periods of standing or walking.

The company's mission is to enable everyone to live an independent life for as long as they live, aiming to create a world without back-breaking labor or the need for elderly care. This problem-solving approach, rather than a technology-first mindset, distinguishes Innophys from many other university-originated ventures. The Muscle Suit Every received ISO 13482 certification for personal care robot safety in February 2020.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2013
Headquarters
Tokyo, Japan
Employees
25
Open positions
None listed
Dealroom signal
59.1/100
Industry
Health
Sub-industry
Medical Devices
Sector
Health Tech & Medtech, Spinout, Disability tech, Exoskeleton, Wearable, elderly care, NIF defense security and resilience, NIF Crisis preparedness, DT and LS
Technology
Hardware, Deep Tech
Business model
Manufacturing
Client focus
b2b

Funding history

6 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SUPPORT PROGRAM✓Other financing May 2025 $0 — HEC Paris —
SERIES C✓Equity / VC Jan 2020 $27M $109M Fidelity International · North Avenue Capital · Future Venture Capital · Bic camera ↗
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Growth signals

INNOPHYS website traffic

Latest recorded traffic for INNOPHYS is 5.1K monthly website visits, down 3.8% over the last three months. INNOPHYS's team grew 525% over the past year.

Latest monthly visits5.1K 3-month web change-3.8% 1-year team growth+525%
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Similar companies

Closest operating peers by Dealroom taxonomy

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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

12 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A4 investors entered at this stage

  • INCJ
  • SMBC Venture Capital
  • Jochu Technology Co.
  • Sansei Capital Investment

Series B and later4 investors entered at this stage

  • Fidelity International
  • North Avenue Capital
  • Future Venture Capital
  • Bic camera

Other known investors4 additional known investors

  • HEC Paris
  • Tokyo University of Science
  • HEC Paris Incubator
  • Seibu Shinkin Capital
Team profiled 3 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 3 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
1 countries with
team presence
🇯🇵 Japan100%
1 country shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about INNOPHYS on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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