MileBot Robotics Raises ￥10M in Extended Series A Round

(VCBeat) Feb. 1, 2021 -- Recently, Shenzhen MileBot Robotics Co., Ltd. ("MileBot Robotics") announced the closing of an additional Series A round of tens of millions, jointly led by Xingchen Fund and Sihuan Pharmaceutical, with participation from Zhejiang Dening and the existing investor Lenovo Capital & Incubator Group in previous three rounds. The last round was completed in August 2020, bringing the financing to four rounds. Chen Gong, general manager of MileBot Robotics, said The funding will be used for product R&D, brand building and channel expansion.

Established in 2016 in Shenzhen, the innovation city of China, MileBot Robotics has a technical team composed of returnees and technical experts from famous universities at home and abroad, with profound technical experience and international vision. In the past four years, the company has been focusing on the R&D of exoskeleton robots and human-computer interaction technology, creating a smart rehabilitation system, improving the efficiency and effect of rehabilitation therapy through robots, Internet of Things (IoT), big data, artificial intelligence and other technologies. MileBot Robotics has become the industry's leading provider of innovative rehabilitation robots and solutions.

Around its core technology – the robot interaction based on flexible drive technology, MileBot Robotics has developed several rehabilitation robots, including the lower limb rehabilitation exoskeleton robot, walker robot, hand exoskeleton robot, and so on. Through the precise and stable force control to realize the initiative training mode through the patient - robot cooperation, those products can greatly improve the effectiveness of rehabilitation training.

Bear-H1, the lower limb rehabilitation exoskeleton robot, is the first active rehabilitation robot for stroke patients in China. Bear-H1 is MileBot Robotics' focus in marketing in 2021. MileBot Robotics has completed the construction of its sales team and will expand its business to general hospitals and rehabilitation hospitals to take the market. 

In addition to the expansion of sales channels in hospitals, MileBot Robotics will vigorously promote the home version of the walking robot, so that everyone in need can get the service of the robot.

Beijing-based Xingchen Fund serves the capital market. Its businesses cover non-securities, financial consulting, and equity investments.

Sihuan Pharmaceutical has achieved sound development in the past years and has grown into the leading pharmaceutical company in China's prescription drug market. The Group has been the largest cardio-cerebral vascular drug franchise in China's prescription drug market since 2007.