Robotic Healthcare Company, Fourier Intelligence, Secures RM264 Million In Funding
The new funding will accelerate market expansion, enable innovation across its advanced healthcare robotics solutions and accelerate global growth opportunities.
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Fourier Intelligence, a Shanghai-based medical technology company, received a growth investment of 400 million RMB or over RM264 million in Series D Funding, led by SoftBank Vision Fund 2 and backed by the Saudi Aramco P7 Venture Fund and the Yuanjing 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, AI and digital rehabilitation solutions for the healthcare industry.
Leveraging on 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.
Alex Gu explains that the rehabilitation market has significant tech adoption potential, and the company demonstrated almost three times growth in revenue in 2021, despite the challenges posed by the global pandemic.
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.
Fourier Intelligence Founder and Group CEO Alex Gu.
He believes that 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.
Fourier Intelligence Founder and Group CEO Alex Gu.
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 Ability Lab (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.
SoftBank Investment Advisers Partner Joanne Xu.
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.
Zen Koh added that the company’s mission is to enable widespread patient access to life-changing technology-enabled therapies.
He said that 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™. 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 possible as quickly as possible.
Fourier Intelligence Co-Founder and Group Deputy CEO Zen Koh.
“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.
Saudi Aramco P7 Venture Fund Executive Managing Director Aysar Tayeb.
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