Hangzhou RoboCT Expertise Growth Co., maker of rehabilitation robots in China, has scored $15.7 million in a Collection A+ funding spherical led by Fortune Capital.
The investing spherical was additionally participated by Essence Securities, Poly Capital, and its current investor, Blue Run Ventures China.
WHAT IT DOES
RoboCT develops sensible rehabilitation gadgets and rehabilitation help instruments for the disabled, the aged, and medical rehabilitation centres. It claims to be the primary firm in China to acquire a clearance from the Nationwide Medical Merchandise Administration for its lower-limb exoskeleton robots for central neuropathy.
Its UGO exoskeleton robotic has been utilized in over 200 Chinese language hospitals to assist sufferers relearn gait, together with these with spinal wire damage, stroke, decrease limb muscle weak spot, and different nervous programs ailments. Its system makes use of intention detection and multi-sensor info fusion applied sciences to analyse, assess, and reply to consumer intentions.
The corporate additionally creates exoskeleton tech for numerous purposes, akin to for leisure and sports activities.
With its robot-as-a-service mannequin, mixed with using the digital rehabilitation cloud platform, RoboCT helps to enormously alleviate therapists’ work burden whereas enhancing the effectivity of rehabilitation coaching.
WHAT IT’S FOR
Based mostly on a press assertion, the corporate’s new funds will likely be used to strengthen its operational and commercialisation capabilities and international growth.
CEO Wang Tian stated that sooner or later, they plan to extend their investments in product, expertise, know-how and provide chain, in addition to enrich their product matrix and work on constructing an open C-end client operation platform.
The worldwide marketplace for rehabilitation robots is seen to go above $750 million in worth this yr. By 2026, it’s projected to develop to $1.8 billion, rising at a 21.7% CAGR. China, the world’s second-biggest marketplace for rehab robots with 39% of the worldwide market’s share, is anticipated to be value practically $270 million over the following 4 years, rising by 23% every year.
One other participant on this area, GripAble, a London-based maker of a digital neurological and musculoskeletal rehabilitation platform, has additionally raised $11 million in a current Collection A financing spherical. The corporate presents a handheld system that may be squeezed to evaluate a consumer’s grip power. It gamifies arm and hand coaching by connecting to a smartphone app.