RoboCT brings in $15M for robotic exoskeletons

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RoboCT’s UGO exoskeleton robotic is used to assist individuals learn to stroll. | Supply: RoboCT

Hangzhou RoboCT Expertise Growth Co., a developer of robotic exoskeletons, introduced that it introduced in over $15.7 million (RMB 100 million) in sequence A+ funding. The corporate plans to make use of the funding to broaden globally and enhance its operation and commercialization capabilities. 

RobotCT’s UGO exoskeleton robotic is a rehabilitation robotic that helps sufferers who expertise motor dysfunction within the decrease physique learn to stroll. Sufferers which have suffered from spinal wire accidents, strokes, decrease limb muscle weak spot and different nervous system ailments have benefited from the robotic, which is at work in over 200 hospitals in China. 

The corporate was the primary in China to obtain the Nationwide Medical Merchandise Administration (NMPA) registration certificates for lower-limb exoskeleton robots for central neuropathy. 

“RoboCT’s exoskeleton has acquired extraordinarily constructive suggestions from sufferers and hospitals,” Wang Tian, CEO of RobotCT, stated. “We’re honored that our dedication has been acknowledged by the trade and by high institutional buyers who share our imaginative and prescient within the early levels of RoboCT’s institution. We’re conscious that we’re shouldering an awesome social accountability and consider we will turn into a top-tier firm inside the trade.”

Fortune Capital led the funding spherical, which additionally included participation from new buyers, like Essence Securities, Poly Capital, and an current investor, Blue Run Ventures China. 

“We consider in RoboCT’s potential to rework rehabilitation and convey autonomy to individuals with diminished mobility,” Jui Tan, managing associate at Blue Run Ventures China, stated. “Together with the aged inhabitants, rising incidence of bodily debilitation holds the important thing to the expansion of assistive robotics in China. The widespread use of exoskeleton robots is an inevitable pattern sooner or later.”

In response to RoboCT, the corporate has produced over 100,000 UGO exoskeletons thus far. The corporate claims its robust provide chain has allowed it to push manufacturing prices down, permitting it to pump out the exoskeletons at a a lot bigger scale. The corporate presents its exoskeleton as a robotic as a service (RaaS), making adoption simpler for hospitals.