Chinese Medical Rehabilitation Robot Maker Fourier Closes $15 Million Funding Round

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: Geely Leads $141 Million Round for Tsinghua-Linked Robotics Startup; Intel Pivots to Custom Chips to Tap China’s Trillion-Yuan Computing Markets; Wingtech Demands Return of Nexperia Control After Dutch Freeze Pause

LATEST: AI Keeps China, U.S. From Decoupling Despite Trade Tensions, Insiders Say; Wingtech Demands Return of Nexperia Control After Dutch Freeze Pause; Intel Pivots to Custom Chips to Tap China’s Trillion-Yuan Computing Markets; Geely Leads $141 Million Round for Tsinghua-Linked Robotics Startup; China’s Giant Neutrino Detector Delivers First Results With Record Precision; China Unicom Taps Veteran Executive as Chairman to Navigate Telecom Transition; Chinese Self-Driving Firms Accelerate Into Middle East, Southeast Asia; Baidu Posts Record Revenue Decline as Ad Business Falters; Xiaomi’s EV, AI Units Post First Quarterly Profit; China’s Agricultural Drone Makers Pivot to Smarter Navigation as Size Race Ends; Alibaba Renames AI App to Stand Out in China’s Crowded Chatbot Market; Investors Flock to Chinese eVTOLs Chasing Regulatory Green Lights; Nexperia Headquarters Rachets Up Feud With China Unit With Salvo of Accusations; Robot-Maker Unitree Steps Closer to China IPO; Tencent Says Talks With Apple on WeChat Game Fees Are Advancing; Baidu Unveils Ambitious AI Chip Roadmap, Targeting 1 Million-Card Cluster by 2030; Tencent’s Profit Rises 19% on Overseas Gaming and AI-Powered Ad Surge; Caixin Summit: Design, Commercialization Key to China’s Low-Altitude Economy Taking Off, Industry Insider Says; China’s Robotics Revenue Soars as Industry Races to Crack Embodied AI; U.S. Formally Suspends Sweeping Export Control Rule for One Year After China Trade Talks

By Ding Yi / Oct 27, 2020 04:53 PM / Finance

Photo: Visual China

Chinese medical rehabilitation robot startup Fourier Intelligence has secured 100 million yuan ($15 million) in its series C funding round led by Vision Plus Capital.

The Shanghai-based company will use the capital raised to develop new rehabilitation robots and improve the flow of its upstream and downstream supply chains, according to a company statement released on Monday.

Founded in 2015, Fourier Intelligence mainly sells physical rehabilitation equipment and robots to hospitals, communities and families, many of which are designed to help patients rehabilitate limbs damaged by mobility-related injuries.

Fourier Intelligence also works with several foreign research centers and universities such as Shirley Ryan AbilityLab, formerly known as the Rehabilitation Institute of Chicago, and the University of Melbourne, to build rehabilitation robots. Currently, the firm has branches in the southern Chinese cities of Guangzhou and Zhuhai, Singapore and Malaysia.

“Fourier Intelligence aims to help 50,000 to 100,000 rehabilitation institutions to improve their serving capabilities to benefit the elderly population of 250 million and tens of thousands of injured individuals (in China),” said Fourier chariman Gu Jie.

Fourier Intelligence predicts that China’s medical rehabilitation market will reach 100 billion yuan in the future, according to the statement, although it does not provide a timeframe for reaching this landmark.

Contact reporter Ding Yi (yiding@caixin.com)

Share this article

Open WeChat and scan the QR code