AVIC Robotics bags nearly US$14m in Series B funding to spur smart rehab

Currently, AVIC Robotics deploys its rehab robots to treat patients of neural disorders including stroke, brain damage and spinal cord injury.

AVIC Robotics (中航创世机器人), a subsidiary of AVIC Corporation that specializes in the design and manufacturing of neurorehabilitation robot, has announced the completion of a Series B funding round for close to 100 million yuan (US$14 million).

The round was backed by a consortium of financiers, led by Cowin Capital, with participation by Shaanxi Financial Asset Management Co.,Ltd, Fengxi Fund, Qingshi Capital and Chunde Investment.

Proceeds from this round will be spent on R&D in neurorehabilitation, product line expansion and sales network construction.

Founded in 2017 in northwestern China’s Xi’an, the robotic affiliate of state-owned aviation giant AVIC is committed to, among other businesses, rehabilitation technologies.

Its technologies consist of three parts, covering rehab robot, AI and brain-machine interface (BMI).

In response to the pain points confronting neurorehabilitation, it has built a product platform comprising a rehab data software platform, with five robotic devices catering to needs such as rehab assessment, physical therapy and speech therapy.

Currently, AVIC Robotics deploys its rehab robots to treat patients of neural disorders including stroke, brain damage and spinal cord injury.

More than 20 types of its products have been present in nearly 30 provinces, 60 cities and 300 top-tier hospitals across the country.

They have a penetration rate of 30% and higher in the top 100 general hospitals within the country and more than 50% in the best 100 rehab institutions, offering users over 1 million training sessions.

Statistics show that China’s rehab healthcare industry was valued at 101.1 billion yuan in 2021, of which 28.7 billion yuan went to the neurorehab market, representing 28.4%. The size of the industry is projected to hit 268.6 billion yuan in 2025.

“Rehabilitation is the fastest-growing and largest subfield in healthcare,” said Zheng Weihe, chairman of Cowin Capital, the lead investor. “With population aging and steady improvement in people’s quality of life, the smart upgrade of rehab products is a trend of the industry, with an immense future ahead of it.”

Nonetheless, AVIC Robotics is bound to face stiff competition in this segment, from more established rivals like Fourier Intelligence (傅利叶智能) and Siyi Intelligence (司羿智能).

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Ni Tao

Ni Tao is the founder and editor-in-chief of cnrobopedia. Prior to cnrobopedia, he had a full decade of experience with a major state-run English-language newspaper as a tech reporter and opinion writer. He is also a communications specialist, having provided consultancy services to established firms like Siemens, Philips, ABinBev, Diageo, Trip.com Group (Nasdaq: TCOM, HK: 9961), Jianpu Technology (NYSE: JT) and a handful of domestic startups. A graduate of Fudan University, he writes widely about China's business and tech scenes and other topics for global publications including South China Morning Post, SupChina, The Diplomat, CGTN, Banking Technology, among others, and tries to impart his experience to students at Fudan University Journalism School, where he is a part-time lecturer. When he's not writing about robotics, you can expect him to be on his beloved Yanagisawa saxophones, trying to play some jazz riffs, often in vain and occasionally against the protests of an angry neighbor. Get in touch with him by dropping a line at nitao0927@gmail.com.

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