Fourier Intelligence Raises $62 Million for Healthcare Robotics
Fourier Intelligence, which specializes in neuro-rehabilitation robotics, recently raised more than $62 million in funding. The Shanghai-based company plans to use the investment to accelerate its market entry and global growth. Fourier also hopes for further innovation in healthcare robotics.
Fourier offers a range of rehabilitation robots for the upper limbs, lower limbs, movement and balance. The company also operates RehabHub, an intelligent robotic healthcare platform.
“Fourier focuses on giving patients broad access to high-tech treatments. We achieve this with our intelligent robotic solution RehabHub, which is effective and affordable”
RehabHub allows therapists to track patient progress through a single user account created by the platform. All devices in Fourier's Motus series can connect to RehabHub, providing patients with a comprehensive rehabilitation experience.
“The rehabilitation market has significant potential for technology adoption, and we demonstrated nearly threefold revenue growth in 2021 despite challenges associated with the global pandemic. In China, demand for rehabilitation services is growing due to an aging population, an increasing number of patients with chronic diseases and the development of rehabilitation services in clinics. There was a shortage of doctors across the country”
The funding round was led by SoftBank Vision Fund 2 and included participation from Saudi Aramco's venture fund P7 and Yuanjing Vision Plus Capital.
“As China's population ages, demand for rehabilitation services is rising, but these patients face a shortage of qualified therapists. We believe Fourier Intelligence is well positioned to address this workforce challenge by using technology to deliver effective and measurable treatments that achieve better patient outcomes. Working with more than 30 leading hospitals and research institutions worldwide, the company has built an integrated solution that combines a digital platform, hospital services and an extensive product portfolio. We are pleased to work with Alex Gu and his team to support technological innovation in China's rehabilitation sector”
Fourier has more than 1,000 healthcare customers worldwide. It operates 17 international joint research laboratories in eight cities around the world, including Singapore, Chicago, Phoenix, Zurich, Melbourne and Madrid. The company was founded in 2015.
“Fourier's broad product portfolio, with extensive hardware capabilities (including a force sensor, monitor and controller) and an algorithm (for force control and feedback), is well suited to addressing clinical challenges. We believe intelligent rehabilitation technology companies such as Fourier Intelligence can address the shortage of workers and offer practical, measurable treatments to improve patient outcomes. We are pleased to work with Joan Xu and the team at SoftBank Investment Advisors to advance the intelligent rehabilitation sector. We look forward to using their support to create significant value not only for medical rehabilitation robotics communities, but for the robotics world as a whole, to tackle the most complex global challenges facing humanity and the environment”
As a leading global manufacturer and provider of AI-powered rehabilitation robotics solutions, Fourier is committed to technological innovation and leads, supports and participates in international scientific research in rehabilitation robotics.
Guided by its vision of "rehabilitation for all" through intelligent technology, Fourier Intelligence has implemented a number of modern rehabilitation centers with strategic institutional clinical partners under its RehabHub concept. The ability to link data and coordinate among multiple rehabilitation robots has reduced the number of clinicians required, significantly improving efficiency and cost.
“Our mission as a company is to give patients broad access to life-changing treatments through technology. One of the biggest obstacles to achieving this goal is high cost and low adoption of technology. Our team has focused on the urgent need to improve accessibility while ensuring the effectiveness of our intelligent robotic solution RehabHub. The expertise and capital that our strategic investors bring to Fourier will help us rapidly achieve global commercialization and deliver these innovative treatments to as many patients as possible as quickly as we can”
The company aims to become a global one-stop provider of intelligent rehabilitation solutions, offering world-class technology that is affordable and highly competitive for the clinical market.
“Prosperity 7 is pleased to continue supporting Fourier in this latest funding round and as part of an ongoing strategic partnership. We hope to introduce Fourier's rehabilitation solutions into the network of hospitals and clinics in the Kingdom and look forward to working with the company to provide cutting-edge rehabilitation services and solutions and improve recovery and quality of life for patients in Saudi Arabia and beyond”
