Yrobot Announces Close Of $10 Million Series A Financing Round

(VCBeat) Apr. 23, 2021 -- On April 22, Yrobot Inc. ("Yrobot"), the first domestic soft exosuit developer, announced a Series A funding round of tens of millions of dollars, co-led by Country Garden Venture Capital, Chobe Capital and another industry leader, with participation from existing investors GL Ventures, Baidu Ventures, and Linear Capital. Fanzhuo Capital served as the exclusive financial advisor.

According to the startup, the fresh round of funding will be used towards the development of intelligent wearable medical devices for rehabilitation, optimization of underlying technology and team building, and the upgrade of digitization of rehabilitation devices, networking of data and personalized treatment.

Yrobot is a top venture-backed, early-stage wearable robotics company that builds world-class assistive walking device to improve the mobility of elderly people and stroke patients. The company was founded by Harvard and MIT researchers with years of experience on cutting-edge wearable robotic technology. They aim to build more effective, affordable, and lightweight wearable robotic devices for the elderly and stroke patients to provide them additional muscle strength, which allows them to walk easier, faster and farther.

Yrobot has developed the world's first soft exosuit which is more flexible, more portable, and more intelligent. The system combines the technologies of AI algorithm, robotic technology, design of flexible material, and human biomechanics, which allow the exosuit to fit body movements well, and give real-time assistance for corresponding joints, and improve the wearer's action performance, help him complete the intended action in a more stable, easier, and more accurate way.

Founded in January 2019, Country Garden Venture Capital is the first-level business division of Country Garden Group, which is responsible for the group's equity investment business. Country Garden Venture Capital continues to focus on real estate upstream and downstream industry chain, big health, big consumption, logistics supply chain, advanced manufacturing, new infrastructure and other investment fields.

Chobe Capital was established in September 2016 and headquartered in Shanghai. Chobe Capital is specialized in professional equity investment, mainly focusing on the pre-IPO and Venture Capital projects. Chobe Capital has had rich experience in TMT, Biotechnology, Consumption Upgrading Industries.