[Happy News] Get 10 million yuan Pre-A round of financing, take a new strategy

In April this year, MileBot Robotics completed tens of millions of Pre-A financing. This round of financing was led by shared investment, followed by Lenovo Venture Capital. In addition to the angel round financing previously led by Lenovo Venture Capital, MileBot Robotics has been favored by many investment institutions in just one and a half years after its establishment.

Dr. Chen Gong, CEO of MileBot Robotics , said that on the one hand, this round of financing provided great support for product iteration and clinical trials. On the other hand, it will also speed up the company’s market layout and the construction of talent echelon.

The World’s First Rehabilitation Exoskeleton Robot Based on Compliant Actuators

Focusing on the core technology-robotic interaction technology based on compliant actuator, the company has developed several medical rehabilitation robot products including lower limb rehabilitation exoskeleton robots (Figure 1).

Figure 1. Lower Limb Rehabilitation Exoskeleton Robot

This lower limb rehabilitation exoskeleton robot is also the world’s first exoskeleton rehabilitation robot product based on compliant actuators. This technology can enable our robot to achieve more accurate force feedback control, and greatly improve the safety and stability of the robot.

Exoskeleton Robot Market Has Huge Blue Ocean and Unlimited Prospects

At present, the medical rehabilitation exoskeleton robot market is still a huge blue ocean. There are more than 10 million stroke patients in China, with a rapid increase of 1.5 to 2 million per year. The Health and Family Planning Commission predicts that it will reach 31 million by 2030. However, in the face of this huge demand for professional rehabilitation talents, there are currently only about 20,000 rehabilitation talents in China that are far from enough. Through advanced technology, the MileBot rehabilitation robot can provide patients with comfortable and safe precision rehabilitation training and improve rehabilitation efficiency. It is a product that meets market demand and an inevitable choice to solve the contradiction between supply and demand.

Strong team strength, recognized by many investment institutions

In one year and a half, the MileBot Robotics has been favored by many investment institutions. Huang Fanzhi, a sharing investment partner led by this round of financing, said: “Share investment is a typical VC. It is based on the forefront, facing the future, and discovering innovation is the core logic of sharing medical investment. MileBot’s exoskeleton robots with compliant actuators are completely in line with this core logic, the rehabilitation market targeted by the product also has great potential. At the same time, the founding team is professional, efficient and pragmatic, which is also a key factor that investors value.”

At the same time, Lenovo Venture Capital, which leads the first round of investment and continues to make additional investments, also shows that besides market potential, more attention is paid to the technological accumulation of the MileBot team. Dr. Chen Gong (MileBot Robotics’ CEO) and Dr. Ye Jing (MileBot Robotics’ CTO) have been engaged in the interdisciplinary research of the combination of robotics and medical rehabilitation. Hu Feng (MileBot Robotics’ COO) has been engaged in the robotics industry for many years, and has rich experience in the robotics market. The control algorithm and engineering implementation of its core technology are difficult and barriers are strong, and compliant actuators can also be used as core components to enable other industries and fields, which is also not scalable in other similar teams. Additional investment is due to the change of the team in a short year, even exceeding expectations. It has shown excellent results in terms of goal accomplishment, product iteration, team combat effectiveness and business development.

Take Advantages of the Momentum and Move On

Dr. Chen Gong said that he already has a very clear plan for future development. On the one hand, the company will use the exoskeleton rehabilitation robot as a carrier to build an intelligent rehabilitation system so that more patients can get advanced rehabilitation treatment. On the other hand, the company also hopes to propose more solutions in the field of human-computer interaction based on its core technology (compliant actuator).