Fourier Intelligence receives tens of millions in a new round of financing to accelerate the construction of the rehabilitation industry ecosystem
SHANGHAI, March 8, 2021 – Fourier Intelligence, a leader in China’s intelligent rehabilitation industry, completed its Series C+ round of financing of tens of millions of yuan. The financing round is led by the Shanghai Artificial Intelligence Industry Investment Fund. This round of financing will be used for new product research and development, accelerate the improvement of the core product matrix of the extensive line of rehabilitation robots, integrate the upstream and downstream platforms of the industrial chain, and promote the establishment of a rehabilitation ecosystem.
“Despite the challenging global pandemic, Fourier Intelligence has been on track in delivering revolutionary rehabilitation solutions globally,” said Mr Zen Koh, CEO of Fourier Intelligence’s Global Hub. “The successful completion of the C+ round is a strong vote of confidence and will further accelerate Fourier’s plan in the consolidation of the market through vertical integration.”
Driven by its vision of ‘rehabilitation for all’ through intelligent technology, Fourier Intelligence develops a modern rehabilitation centre under its RehabHub™ concept with intelligent robotics as the core. Multiple rehabilitation robotics with similar interface with complementary functions are installed in the rehabilitation hubs to achieve data interconnectivity between the robots, and finally achieves the effect of multi-machine coordination. This reduced the number of clinicians required thus, significantly improving efficiency and the cost for manpower. The company aims to become a global one-stop solution for intelligent rehabilitation whilst providing world-class technology that is affordable and highly competitive for the clinical market.
Simultaneously, Fourier Intelligence is actively assisting the rapid implementation of the three-tiered rehabilitation network nationwide and forming a closed loop at the product, data, medical institution, and user levels. The company is transforming from a product research and development company to an industry-driven platform company.
The Shanghai Artificial Intelligence Industry Investment Fund (abbreviated as: AI Fund) was approved by the Shanghai Municipal Government and was jointly initiated and established by Shanghai Guosheng Group and Lingang Group. The fund’s Limited Partners are both large state-owned enterprises with Lingang Group based in the Shanghai Science and Technology Entrepreneurship Center.
The AI Fund focuses on the core technologies and key applications of artificial intelligence and is committed to building a one-stop platform for the communication, connection, and integration of various elements for the development of Shanghai’s artificial intelligence industry. It aims to build an industrial chain and ecology that closely integrates the world’s top technologies and extensive local applications to strategically position Shanghai at the top of the global arena for artificial intelligence.
Wu Wei, general manager of the Shanghai AI Fund, said: “The current rehabilitation field lacks professional medical staff and advanced medical equipment. Intelligent rehabilitation robots can assist doctors and therapists to provide patients with safe and effective human-computer interaction training. Efficient solutions will greatly reduce the workload of therapists. The AI Fund will work with Fourier to create the era of intelligent rehabilitation – the RehabHub™ 2.0.”
Fourier Intelligence is headquartered in Shanghai, with its global team counts more than 350 employees with offices in Singapore, Malaysia, Guangzhou, and Zhuhai. In the field of rehabilitation robot research, Fourier Intelligence has entered the world’s highest standing, and established joint laboratories with the Shirley Ryan AbilityLab in Chicago, which is ranked number one in the United States, the University of Melbourne in Australia, and ETH Zürich in Switzerland. Recent news highlights the achievements the company has developed with universities such as Kobe University in Japan and KITE Research Institute in Canada through signing a Memorandum of Understanding to jointly carry out the transformational research of rehabilitation robots and assistive technologies.
At present, the rehabilitation robot products developed by Fourier Intelligence have been installed in more than 30 countries and more than 1,000 institutions around the world, including hospitals, rehabilitation centres, elderly care institutions, and more. The robotics perform more than 400 million trainings and are leading the development of the global rehabilitation industry through a global strategic layout and advancement.
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