Genny Mobilty, a Lugano, Switzerland-based maker of a two-wheel self-balancing motor chair for the disabled, raised €3.0M in funding.
Milan-based VAM Investments acquired a minority stake in the company via a dedicated investment vehicle. Following the deal, VAM Investments’ founder Marco Piana will serve as chairman of the board of Genny Mobility.
The company intends to use the funds to accelerate its international expansion, with an expected €4m turnover in 2014.
Founded in 2012 by Paolo Badano, inventor, and Claudio Poggio, Genny Mobility makes Genny, a two-wheel self-balancing motor chair for the disabled controlled by an intelligent network of sensors.
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