Zhonghang Chuangshi Secures Tens of Millions in Series A+ Funding to Accelerate R&D of B2B and B2C Smart Rehabilitation Products

On May 26, 2022, with the approval of Aviation Industry Corporation of China, Ltd. (AVIC), AVIC Chuangshi Robot (Xi'an) Co., Ltd. (hereinafter referred to as “AVIC Chuangshi”) completed its A+ round financing of tens of millions of RMB through a capital increase via non-public agreements with existing shareholders. The investors participating in this capital increase were Xi’an Junrong Electronic Satellite Fund Investment Co., Ltd., AVIC Lianchuang Technology Co., Ltd., and Xi’an Nuoweilixing Robot Technology Co., Ltd.

The proceeds from this financing round will be primarily allocated to establishing a nationwide marketing system for the company’s smart rehabilitation product line, developing new serialized products for both B2B and B2C smart rehabilitation segments, expanding civil-military integration initiatives, and further upgrading industrialization capabilities.

AVIC Chuangshi is a high-tech enterprise specially approved and established by Aviation Industry Corporation of China (AVIC) in response to the national “Mass Entrepreneurship and Innovation” strategy, focusing on smart rehabilitation healthcare and military-civilian integration. The company is primarily positioned to develop intelligent robotic products in the fields of medical robots, service robots, and military robots, while also providing customers with full-process, full-lifecycle smart rehabilitation management systems and comprehensive smart rehabilitation solutions.

At this stage, AVIC Chuangshi has established three joint R&D centers and five clinical trial bases across China, reaching cooperation intentions with more than 2,000 medical institutions. Currently, its products have been deployed in over 100 benchmark hospitals across 40 cities in provinces and municipalities including Beijing, Shanghai, Jiangsu, Guangdong, Shaanxi, Xinjiang, Gansu, Fujian, Henan, Hebei, and Anhui, achieving tens of millions in sales revenue in the healthcare sector and providing rehabilitation treatment to tens of thousands of patients.

The Series A+ round investors, Xi'an Junrong Electronic Satellite Fund Investment Co., Ltd., AVIC Lianchuang Technology Co., Ltd., and Xi'an Nuoweilixing Robot Technology Co., Ltd., now hold a combined equity stake of 14.3791%.

Established in May 2016, this private equity fund was jointly initiated by Haitong Securities Co., Ltd. and multiple institutions with military-industrial backgrounds, with a primary investment focus on civil-military integration. The fund operates under a market-oriented model, prioritizing investments in the sectors of civil-military integration, electronic information, and satellite communications. Leveraging Haitong Securities’ profound understanding of the capital markets and its expertise in capital operations, the fund aims to cultivate and support a cohort of core enterprises that possess innovative capabilities and master core technologies.

Established in 2014, this technology innovation service platform was created by Aviation Industry Corporation of China (AVIC) for the entire society to respond to and implement a series of top-level strategic deployments, including the national strategies of innovation-driven development and military-civilian integration, as well as the “Mass Entrepreneurship and Innovation” initiative and the “Internet Plus” action plan. It serves as the primary construction vehicle for AVIC’s National Demonstration Base for Mass Entrepreneurship and Innovation and the National Specialized Makerspace for Military-Civilian Integration, empowering high-quality, rapid development of innovation and entrepreneurship projects and small and medium-sized enterprises.

Xi’an Nuoweilixing Robotics Technology Co., Ltd. is a shareholder composed of the company’s founding team. Since the company’s establishment in August 2017, the founding team has served as the core driving force behind the development of AVIC Chuangshi Robot (Xi'an) Co., Ltd. through more than four years of sustained efforts. The concurrent capital increase by these founding-team shareholders will further stimulate their entrepreneurial potential, closely align team growth with corporate development, fully mobilize the team’s entrepreneurial enthusiasm, and continuously generate new ideas, business opportunities, and products for the company, thereby ensuring its rapid growth.