XIShine Smart Healthcare Closes $10M Angel Round of Financing

(VCBeat) Jan. 18, 2021 -- Xixiang (Shanghai) Technology Co., Ltd. ("XIShine Smart Healthcare") announced the closing of angel round financing worth nearly 10 million yuan, with participation from Shanghai Jiuhetang Traditional Chinese Medicine Co., Ltd. ("Jiuhetang Group") and Xiamen Pidao co-investment. the fresh round of funding will be used towards the R&D of new-generation products and the construction of the digital service system.

Founded in 2017, XIShine Smart Healthcare is a technology company engaged in the R&D of AI-driven medical robots. Starting with intelligent robots, the company has successfully developed Zhiyi Shiguang Series moxibustion robot. The moxibustion robot has been piloted and upgraded for two generations of products. Meanwhile, a comprehensive service process and market promotion model has been formed and has been well praised by customers in many provinces across China. At present, the R&D of the third generation robot of XIShine Smart Healthcare is also progressing smoothly.

"With the precise service and price advantage of the robot, the moxibustion will benefit more people, which is not only the needs of the elderly but also my dream." "Said Chen Hanbin, founder of XIShine Smart Healthcare.

After two years of in-depth research on elderly-care institutions, healthcare institutions, and traditional Chinese medicine hospitals, and discussion with experts from Beijing University of Chinese Medicine and others, through the development and testing of products and projects, Chen Hanbin determined intelligent moxibustion robot as the final product to be developed. He believes that the introduction of technologies in traditional Chinese medicine in the new healthcare service market has great prospects.

After years of optimization and feedback from experts, the moxibustion robot now has three features, including programmed and customized moxibustion technique, automatically purifying moxibustion smoke, and providing personalized precision moxibustion healthcare program based on data.

Chen Hanbin said that beginning in 2021, in addition to accelerating the development of a new generation of robots and digital service system construction, XIShine Smart Healthcare will also seek market cooperation, supporting more moxibustion healthcare institutions, and strive to become China's largest and most professional provider of new healthcare solutions based on moxibustion robots.

Founded in 1933, Jiuhe Tang Group has been famous in Shanghai since its inception for its genuine and considerate treatment using herbs. In 2011, the company was awarded the title of "China Time-honored Brand" by the Ministry of Commerce (China), which is deeply trusted by consumers and has won policy support from the government. 

At present, Jiuhetang Group has built a medical and health industry chain integrating healthcare services, pharmaceutical supply chain system, health management and self-developed products.