Hangzhou RoboCT Technology Development Co., maker of rehabilitation robots in China, has scored $15.7 million in a Series A+ funding spherical led by Fortune Capital.
The investing spherical was additionally participated by Essence Securities, Poly Capital, and its present investor, Blue Run Ventures China.
WHAT IT DOES
RoboCT develops good rehabilitation gadgets and rehabilitation help instruments for the disabled, the aged, and medical rehabilitation facilities. It claims to be the primary firm in China to acquire a clearance from the National Medical Products Administration for its lower-limb exoskeleton robots for central neuropathy.
Its UGO exoskeleton robot has been used in over 200 Chinese 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 person intentions.
The firm additionally creates exoskeleton tech for numerous purposes, corresponding to for leisure and sports activities.
With its robot-as-a-service mannequin, mixed with using the digital rehabilitation cloud platform, RoboCT helps to drastically alleviate therapists’ work burden whereas enhancing the effectivity of rehabilitation coaching.
WHAT IT’S FOR
Based on a press assertion, the corporate’s new funds shall be used to strengthen its operational and commercialization capabilities and international growth.
CEO Wang Tian mentioned that in the longer term, 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 shopper operation platform.
MARKET SNAPSHOT
The international marketplace for rehabilitation robots is seen to go above $750 million in worth this 12 months. 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 predicted to be price practically $270 million over the following 4 years, rising by 23% every year.
Another participant in this area, GripAble, a London-based maker of a digital neurological and musculoskeletal rehabilitation platform, has additionally raised $11 million in a latest Series A financing spherical. The firm provides a handheld system that may be squeezed to evaluate a person’s grip power. It gamifies arm and hand coaching by connecting to a smartphone app.
