Rehab robotic maker RoboCT snaps up $15M in Sequence A+ funding

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Hangzhou RoboCT Expertise Growth Co., maker of rehabilitation robots in China, has scored $15.7 million in a Sequence 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 good 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 point, and different nervous methods illnesses. Its system makes use of intention detection and multi-sensor data fusion applied sciences to analyse, assess, and reply to consumer intentions.

The corporate additionally creates exoskeleton tech for numerous purposes, reminiscent of for leisure and sports activities.

With its robot-as-a-service mannequin, mixed with the usage of the digital rehabilitation cloud platform, RoboCT helps to vastly 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 enlargement. 

CEO Wang Tian stated that sooner or later, they plan to extend their investments in product, expertise, expertise and provide chain, in addition to enrich their product matrix and work on constructing an open C-end client operation platform.

MARKET SNAPSHOT

The worldwide 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 subsequent 4 years, rising by 23% annually. 

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 latest Sequence A financing spherical. The corporate affords a handheld system that may be squeezed to evaluate a consumer’s grip energy. It gamifies arm and hand coaching by connecting to a smartphone app.



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