China Digest: IDG Capital backs Fourier; Xiaomi, Shunwei Capital invest in Shanhuishou

Visual from Fourier Intelligence's website

Exoskeleton robotic manufacturer Fourier Intelligence has raised nearly $5 million in a Series A funding round while Xiaomi and Shunwei Capital have co-led a $15-million Series A funding round in Shanhuishou.

Fourier raises $5m to further develop medical robots

Fourier Intelligence, a Chinese technology and design company providing exoskeleton robotic products, has raised Rmb30 million ($4.8 million) in a Series A funding round led by Prosperico Venture, according to a Yicai Global report.

The company will reportedly use the fresh funds to further develop and commercialize its medical robots.

Qianhai Fund of Funds, IDG Capital, and Volcanics Venture also joined the funding round.

Based in Shanghai, Fourier Intelligence produces exoskeleton products that can help the disabled go beyond their physical limits. Its products include upper-limb rehab robotics and lower-limb exoskeleton robot.

“By integrating the cutting-edge technology, our international research team in combination with talent engineers, scientists, and artists, will continue to work on developing original products and bring the new vision of rehab-robots and exoskeleton products to the world,” the company said on its website.

Xiaomi, Shunwei Capital backs $5m Series A in Shanhuishou

Chinese electronics and software firm Xiaomi and Shunwei Capital have co-led the Series A funding round in Shanhuishou, an online-to-offline second-hand digital product recycling and trading platform, which raised Rmb100 million ($15 million), according to a 36kr report.

The fresh funds will be used to improve the company’s platform, recruit staff, and develop mobile communications business, according to the Chinese news website.

Founded in May 2016, Shanhuishou focuses on the sale of second-hand mobile phones, tablets, Apple computers, and other electronics and digital products. This year, the company is set to launch a mobile phone rental, screen insurance, and other businesses related to recycling of digital items.

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