Vision Fund backs China healthcare robotics player
Fourier Intelligence, a Shanghai-based medical technology start-up that focuses on rehabilitation robots, has raised CNY 400m (USD 63m) in Series D funding led by SoftBank Vision Fund 2.
Other investors include Prosperity7 Ventures under Saudi Aramco and China-based Vision Plus Capital. The new funding will support healthcare robotics R&D and global market expansion. Prosperity7 will assist with entry into Saudi Arabia.
Founded in 2015, Fourier has developed an intelligent healthcare robotics platform that delivers tailored solutions for neurorehabilitation. Its products serve as exoskeletons that fit around the damaged limb and track movement using high-precision force and position sensors.
Performance is measured across multiple aspects, including motion, strength, cognition, and response time. The resulting data are analyzed and form the basis of training reports intended to facilitate faster recovery.
Fourier wants to become a global one-stop solution provider providing affordable rehabilitation. It is working on data interconnectivity and machine coordination between multiple rehabilitation robotics with a view to significantly reducing the number of clinicians required, improving efficiency, and bringing down costs.
Alex Gu, founder and group CEO, said the company’s revenue grew nearly threefold in 2021. Fourier claims to have 1,000 institutional healthcare customers and 17 joint research joint labs around the world. It also has research partnerships with 30 hospitals and institutions in locations such as the US, Australia, and Switzerland.
“As China’s population ages, there is increasing demand for rehabilitation services, but these patients face a shortage of qualified therapists,” said Joanne Xu, a partner at SoftBank Investment Advisers, in a statement.
“We believe that Fourier Intelligence is well placed to solve this talent bottleneck by using technology to provide effective and quantifiable treatments to achieve better patient outcomes.”
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.