Orient Speech Therapy Lands $23M Series C1 Funding

(VCBeat) Feb. 5, 2021 -- Recently, Dongfang Qiyin ("Orient Speech Therapy"), a leading institution of children's speech therapy and intervention for autism in China, announced the closing of a Series C1 round worth 23 million dollars, led by Cenova Capital, with participation from existing investors Northern Light Venture Capital and Long Hill Capital. Taihe Capital acted as the exclusive financial adviser in this transaction.

The funds are earmarked for direct sales center establishment, development and clinical research of systematic products based on evidence-based medicine, online service system construction, and further improvement of rehabilitation therapists training system. In the future, Orient Speech Therapy will continue to expand its service system, realize integrated management online and offline, provide more children with one-stop solutions for rehabilitation and growth, establish international standards for speech therapies and intervention for children's autism, and set up benchmarks in this field.

Previously, Orient Speech Therapy received the Series A and Series B funding led by the world's leading healthcare fund, Eight Roads, and its sister fund, F-Prime Capital.

Founded in 2007, Orient Speech Therapy provides speech therapy, behavioral intervention, functional/occupational therapy, and integrated education services for children with speech disorders, autism spectrum disorders, and stunted growth. At present, it has set up more than 40 direct training centers in 20 cities in China, and has nearly 1,000 professional therapists trained by its own system, serving more than 200,000 children in total, making it the largest institution of children's speech rehabilitation and intervention for autism in China.

Cenova Capital is one of the earliest healthcare dedicated funds in China founded in 2010 and is one of the earliest investors in private healthcare services and digital health. Currently, Cenova Capital has five funds under management and invested in over 50 companies with a proven track record across three funds.

Founded in 2005, Northern Light is a venture capital firm targeting early-stage opportunities of innovation and disruptive technology. The company manages 5 USD funds and 5 RMB funds with a total amount of US$4.5 billion. Northern Light focuses on 3 main sectors including TMT, advanced technology, and healthcare.