The new funding will accelerate market expansion, enable innovation across its advanced healthcare robotics solutions and accelerate global growth opportunities
SINGAPORE, January 26, 2022 – Fourier Intelligence, a Shanghai-based medical technology company, received a growth investment of RMB 400 million in Series D Funding, led by SoftBank Vision Fund 2 and backed by Saudi Aramco P7 Venture Fund and the Yuanjing Vision Plus Capital. The new funding will accelerate Fourier’s go-to-market expansion, enable innovation across its advanced healthcare robotics solutions and accelerate global growth opportunities.
Led by Alex Gu, Founder and Group CEO, and Zen Koh, Co-Founder and Group Deputy CEO, Fourier Intelligence is a global leader in Neurorehabilitation Robotics, Artificial Intelligence (AI) and digital rehabilitation solutions for the healthcare industry. Leveraging intelligent robotics, smart actuators, sensors, machine learning, and proprietary control algorithms, Fourier develops and provides an intelligent healthcare robotic platform, RehabHub™, that delivers tailored digital healthcare solutions that revolutionise the neurorehabilitation industry. The company has 1,000+ global institutional healthcare customers and 17 international research joint labs in Singapore, Chicago, Phoenix, Zürich, Melbourne, Madrid, Kobe, and Kuala Lumpur.
“Fourier focused on delivering widespread patient access to technology-enabled therapies. We achieve this with our intelligent robotic solution, RehabHub™, which is effective and affordable.“
— Zen Koh, Co-founder & Group Deputy CEO
“The rehabilitation market has significant tech adoption potential, and we grew our revenue close to over 3 times in 2021, despite the challenges posed by the global pandemic.”, said Alex Gu, Founder and Group CEO of Fourier Intelligence. “China sees increasing demand for rehabilitation services with the ageing population, increased number of patients with chronic diseases, and rehab development in the clinics. There has been a continuous shortage of physicians nationwide. In addition, Fourier’s comprehensive product portfolio with solid capabilities in hardware (including force sensor, monitor, and controller) and algorithm (for force control and feedback) is well-positioned to address clinical pain points. We believe intelligent rehabilitation technology companies like Fourier Intelligence can solve the talent bottleneck and provide practical and quantifiable treatments to improve patient outcomes. We are pleased to partner with Joanne Xu and the SoftBank Investment Advisers team to continue our development of the intelligent rehabilitation sector. We look forward to harnessing their support to create significant value not only for the medical rehabilitation robotic communities but also for the robotic world to tackle the most complex global challenges facing humanity and the environment.”
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.
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“As China’s population ages, there is increasing demand for rehabilitation services, but these patients face a shortage of qualified therapists,” said Joanne Xu, Partner at SoftBank Investment Advisers. “We believe that Fourier Intelligence is well placed to solve this talent bottleneck by using technology to provide effective and quantifiable treatments to achieve better patient outcomes. It has built an integrated solution combining a digital platform, hospital services and a comprehensive product portfolio in collaboration with 30+ world-leading hospitals and research institutions. We are excited to partner with Alex Gu and the team to support technological innovation in China’s rehabilitation sector.”
Driven by its vision of ‘rehabilitation for all’ through intelligent technology, Fourier Intelligence implemented a series of modern rehabilitation centres with strategic institutional clinical partners under its RehabHub™ concept. The possibility of data interconnectivity and multi-machine coordination between multiple rehabilitation robotics reduced the number of clinicians required, significantly improving efficiency and costs. The company aims to become a global one-stop solution provider for intelligent rehabilitation whilst providing world-class technology that is affordable and highly competitive for the clinical market.
“Our mission as a company is to enable widespread patient access to life-changing technology-enabled therapies. One of the biggest obstacles to achieving this is the high costs and low technology adoption rate. Our team focused on the urgent need to enhance availability, accessibility, and affordability, yet ensuring the effectiveness of our intelligent robotic solution, RehabHub™,” added Zen Koh. “The significant experience and capital that our strategic investors bring to Fourier will help us rapidly realise global commercialisation and to deliver these innovative therapies to as many patients as quickly as possible.”
“Prosperity 7 is thrilled to continue supporting Fourier in this latest round of investment and through ongoing strategic collaboration,” said Aysar Tayeb, Executive Managing Director of P7. “We hope to land Fourier’s rehabilitation solutions within the Kingdom’s network of hospitals and clinics and look forward to working with the company to deliver the most advanced rehabilitation services and solutions and improve recovery and the quality of life for patients in Saudi Arabia and beyond.”
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