(Yicai Global) May 11 -- Shanghai Fourier Intelligence, a Chinese firm that designs and makes mass-market rehabilitation robots, has raised CNY100 million (USD14.1 million) in total after securing new B+ fundraising.
Qianhai Fund of Funds is the sole investor in the round, Fourier said in a statement. The target will use the funds for research and development, marketing and to devise an intelligent rehabilitation ecosystem, it added.
"Fourier's lightweight and affordable products series have greatly enhanced the efficiency of therapists and clinicians," said Xu Guangyu, managing director of Qianhai FOF.
The fundraiser is a positive indicator for China’s emerging startups, who have struggled to land venture capital amid the Covid-19 pandemic, an industry insider added.
There is clearly growing demand for tech-driven rehabilitative medicine as the domestic population is aging and there is a severe shortage of experienced therapists, he added.
Fourier, which was founded in 2015 and has raised money from the likes of IDG Capital and Volcanics Ventures, has also struck deals to put rehabilitation robots in major top-tier hospitals like Ruijin and Huashan in hospital, said founder and Chief Executive Alex Gu.
Editor: James Boynton