Fourier Intelligence, a Shanghai, China-based robotics startup, completed a Series B+ funding round in excess of tens of milions of yuan.
Qianhai FOF, a Shenzhen-based equity financing firm, acted as the sole investor in the deal. The investment added to the Series B round of financing announced in July 2019, led by Shenzhen Guozhong Capital Management Co., Ltd., IDG Capital and Volcanics Venture, among other players.
The proceeds from the Series B and Series B+ rounds, estimated at close to RMB 100 million (US$14.11m), will mainly be used to spur R&D, facilitate marketing efforts and formulate an intelligent rehabilitation ecosystem.
Founded in 2015 by Alex Gu, founder and chief executive, Fourier Intelligence is a designer and developer of mass-market rehabilitation robotics. Over the past few years, the company has signed Memorandums of Understanding (MoUs) with top players in the global rehabilitation scene, including but not restricted to Shirley Ryan AbilityLab, the University of Melbourne, ETH Zurich, to establish joint labs.