Fourier Intelligence enters fast lane with new funding round
Shanghai-based AI and robotics company Fourier Intelligence announced on Thursday that it has completed its Series B financing round.
The firm, which was founded in 2015, is an industry leader in the design and manufacturing of mass market, affordable robotics and exoskeleton designed to aid the recovery of stroke patients and other victims of mobility impairment.
According to a company statement, proceeds from the latest financing round, led by Shenzhen Guozhong Venture Capital Management Co Ltd, and followed by existing investors IDG Capital and Volcanics Venture, will mainly be invested to expand Fourier Intelligence’s product line, develop its intelligent robotics platform and consolidate its leading market position.
“Our investors’ endorsements strengthen our resolve in providing revolutionary solutions within the rehabilitation industry,” said Fourier Intelligence Chief Executive Alex Gu. “The latest investment will fuel our momentum in further expanding our client base.”
Headquartered in Shanghai and with offices in Singapore and Australia, Fourier Intelligence has supplied rehabilitation equipment to over 500 hospitals and research institutes from home and abroad.
Recent research indicates that there are four therapists for every 100,000 patients in China. This translates into a shortage of some 300,000 therapists.
“Our goal is to help close that shortfall by easing the workload of therapists engaged in one-on-one manual treatment with our AI solutions,” said Gu.