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 (firstname.lastname@example.org)