Leading rehabilitation robotics manufacturer completes C+ financing round led by Prosperity7 Ventures, an Aramco Venture Fund, to further its global market expansion and technological development
SAUDI ARABIA, July 9, 2021 – Leading rehabilitation robotics manufacturer and AI/haptic research hub, Fourier Intelligence Co., Ltd (“Fourier”), has recently completed a new financing round. The C+ round funding was led by Prosperity7 Ventures, the diversified growth fund of Aramco Venture. All proceeds will go towards global market expansion and technological development, furthering the company’s mission to providing intelligent rehabilitation technologies to empower clinicians and neurological patients.
Fourier Intelligence Group is headquartered in Shanghai and has established multiple R&D centres in Singapore, Chicago, Phoenix, Zürich, Melbourne, Madrid, Kobe, and Kuala Lumpur. Fourier products have been widely installed in more than 1,000 institutions and have customers spanning across 50 countries.
In 2020, Fourier had developed and launched its product-level intelligent robotic solution, RehabHub™, which is widely used in neurorehabilitation, elderly care, and community-based rehabilitation settings. The comprehensive rehabilitation solution is equipped with highly efficient, compact, modular, interconnected, and cost-effective robots that deliver efficacious functional training. RehabHub™ works well in clinical rehabilitation environments to assist clinicians in providing highly intensive, challenging, and effective treatments. This constructively frees up the clinician from soporific and repetitive physical interventions to offer a personalised treatment program through careful assessment.
“This round of financing will further accelerate our growth and allow us to invest more into our core technology development, talents acquisition, and global market expansion,” said Alex Gu, Founder and Group CEO of Fourier Intelligence Group. “Underpinning the successful financing is our impressive growth numbers in recent years, and increased global adoptions, despite the challenging COVID-19 pandemic. In addition, we aim to build a world-leading collaborative rehabilitation ecological system, through our RehabHub™ concept, and to consolidate Fourier’s global leading position further to create greater value for our customers.”
“Fourier Intelligence is leading the way to next-generation rehabilitation. The ability to combine the power of AI analytics with precision robotics can achieve leaps in rehabilitation,” said Aysar Tayeb, Executive Managing Director of Prosperity7 Ventures. “As a pioneer in the robotic rehabilitation industry, Fourier has been part of the development process of the whole space from the outset. We believe this is an important space that will continue to grow, and that the use of intelligent robotics will become the new norm for rehabilitation. Prosperity7 Ventures is always looking to partner with pioneers to enable continued global growth and transformation and provide positive impact on people’s lives. We’re pleased to be part of supporting the exciting global shift towards technology-focused healthcare solutions, and believe Fourier is well-positioned to be a leader in its domain, and we are happy to back the company and to support bringing their technology and services to Saudi Arabia.”
As a global leading manufacturer and solutions provider of AI-powered rehabilitation robotics, Fourier is committed to technological innovation and has been leading, supporting, and participating in international scientific research in the field of rehabilitation robotics. Some of such initiatives are joint research laboratories, respectively, with the Shirley Ryan AbilityLab (formerly known as the Rehabilitation Institute of Chicago) in the United States, the University of Melbourne in Australia, ETH Zürich in Switzerland, National University of Singapore, Kobe University in Japan and the KITE Research Institute at the Toronto Rehabilitation Institute in Canada. These partnerships put Fourier at the forefront of technological innovation and enable Fourier to offer industry-leading products across end-to-end rehabilitation services, with innovative solutions to solve specific clinical constraints.
“Our partnerships with Prosperity7 Ventures and Aramco Ventures inspire and strengthen our resolve in delivering innovative healthcare solutions. Fourier will continue to invest in our core technologies to stay ahead of the competition,” said Zen Koh, Co-Founder and Group Deputy CEO of Fourier Intelligence Group. “The COVID-19 pandemic has fueled the need to reduce reliance on manual clinical interventions, vindicating our advocation of technologies integration in rehabilitation. Rapid iterations and the ability to deliver high performance, low cost, and efficient technological solutions are key to successful clinical adoptions. We look forward to the next stage of our journey, together with our strategic partners.”
For more information on Fourier’s market-leading rehabilitation robotic portfolio, please visit www.fftai.com.
For investor and media inquiries, please contact:
Sarah LIM (Senior Manager)
Prosperity7 Ventures Communications