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Fourier Intelligence, a company specializing in neurorehabilitation robotics, recently raised more than $62 million in Series D funding. The Shanghai-based company plans to use the funding to accelerate Fourier’s go-to-market expansion and global growth. Fourier also hopes to further innovation in its healthcare robotics solutions.
Fourier offers a number of rehabilitation robots for upper limbs, lower limbs and movement and balance. The company also runs an intelligent healthcare robotic platform called RehabHub. RehabHub allows therapists to track patients progress with a unified user account created by the platform.
All of the devices from Fourier’s Motus series can connect with RehabHub, giving patients a comprehensive rehabilitation experience.
“The rehabilitation market has significant tech adoption potential, and we demonstrated almost 3 times growth in revenue in 2021, despite the challenges posed by the global pandemic,” Fourier Intelligence founder and Group CEO Alex Gu said. “China sees increasing demand for rehabilitation services with the ageing population, increased number of patients with chronic diseases, and rehab development in the clinics. There has been a continuous shortage of physicians nationwide.”
The funding round was led by SoftBank Vision Fund 2, and included support from Saudi Aramco P7 Venture Fund and the Yuanjing Vision Plus Capital.
“As China’s population ages, there is increasing demand for rehabilitation services, but these patients face a shortage of qualified therapists,” Joanne Xu, partner at SoftBank Investment Advisers, said. “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. It has built an integrated solution combining a digital platform, hospital services and a comprehensive product portfolio in collaboration with 30+ world-leading hospitals and research institutions. We are excited to partner with Alex Gu and the team to support technological innovation in China’s rehabilitation sector.”
Fourier has over 1,000 global institutional healthcare customers. It operates 17 international research joint labs in eight cities around the world, including Singapore, Chicago, Phoenix, Zürich, Melbourne and Madrid. It was founded in 2015.