XiXiang Technology Secures Nearly RMB 10 Million in Angel Funding to Develop Programmable, Customizable Moxibustion Robots

On January 18, 2021, VCBeat learned that Xixiang (Shanghai) Technology Co., Ltd. (“Xixiang Technology”) announced the completion of its angel financing round, raising nearly RMB 10 million. The round was jointly invested by Shanghai Jiuhe Tang Traditional Chinese Medicine Co., Ltd. and Xiamen Pudao. The proceeds will be used for the research and development of next-generation products and the construction of a digital service system.

Xixiang Technology, founded in 2017, is an AI-driven R&D enterprise specializing in medical and elderly care robots. Leveraging intelligent robotics as its entry point, the company has successfully developed the Zhiyi Shiguang series of moxibustion robots. After two generations of pilot deployments and upgrades, these robots have established a comprehensive service workflow system and market promotion model, earning positive feedback from clients across multiple provinces in China. Currently, the research and development of Xixiang Technology’s third-generation robots are progressing smoothly.

Chen Hanbin is the founder of Xixiang Technology. Through his early involvement in the “Zhou Xing Yi Shan” (One Good Deed a Week) public welfare initiative, he engaged extensively with seniors at assisted living and nursing facilities, gaining deep insight into their healthcare needs. “Leveraging the precision and cost advantages of robotics to make professional Traditional Chinese Medicine (TCM) moxibustion accessible to a broader population is not only a response to the needs of the elderly but also a long-held dream of mine,” said Chen Hanbin.

After two years of in-depth research into elderly care facilities, health and wellness service providers, and traditional Chinese medicine hospitals, as well as discussions with experts from Beijing University of Chinese Medicine and others, and through practical development to validate products and projects, Chen Hanbin determined that the intelligent moxibustion robot would be his final product domain.

Chen Hanbin analyzed that although the domestic market for TCM-assisted diagnostic robots and equipment is flourishing, there are few robots capable of truly autonomous service delivery, and even fewer products that have achieved mass production and market entry. Furthermore, given the state’s heightened attention and policy support for the field of Traditional Chinese Medicine (TCM) in recent years, the efficacy of moxibustion has gained broader recognition and trust. Chen Hanbin stated that the new health and wellness service market, driven by the technological advancement of TCM, holds considerable future potential.

Xixiang Technology’s original intention in developing the moxibustion robot was to preserve the operational methods and techniques of traditional moxibustion, thereby ensuring its therapeutic efficacy, while also leveraging artificial intelligence and big data technologies. By addressing pain points such as smoke odor and labor intensity, the company aims to provide more personalized and precise moxibustion-based wellness solutions, meeting the heightened health demands of people in the new era.

After years of refinement and expert feedback, the moxibustion robot has developed three major features:Programmable and customizable moxibustion techniques, automatic purification of moxa smoke, and personalized, precision moxibustion wellness plans powered by data intelligence.

Unique products are inseparable from the support of a professional team. The core team at Xixiang Technology has deep roots in the robotics sector and is one of the earliest teams in China to focus on the research and development of traditional Chinese medicine (TCM) manipulation-based wellness robots. With nearly a decade of experience in product R&D and technological accumulation, the team has established mature expertise in robotic hardware and software development as well as intelligent technologies. Furthermore, it has developed robust methodologies for applying robotics to the wellness industry and constructing digitalized wellness systems.

Regarding this financing round, Chen Hanbin stated, “The investor, Jiuhe Tang, is a renowned China Time-Honored Brand with expertise in the traditional Chinese medicine (TCM) supply chain and a network of chain TCM hospitals. The two parties can leverage their respective strengths to drive collaborative innovation, particularly in digital TCM services and the development of smart TCM clinics, achieving mutual benefit.”

Chen Hanbin stated that, starting in 2021, Xixiang Technology would not only strengthen the research and development of next-generation robots and the construction of its digital service system, but also launch market investment promotion and cooperation initiatives. By empowering a greater number of moxibustion-based new wellness and healthcare institutions, the company strives to become China’s largest and most professional provider of robotic moxibustion solutions for new wellness and healthcare.

Lin Jianbin, Chairman of Jiuhe Tang, stated that in recent years, the state’s emphasis on the big health and artificial intelligence sectors has been evident, with considerable market growth potential. As an innovator and leader in this field, Xixiang Technology has standardized and intelligentized TCM wellness within the health sector, leveraging competitive advantages across the industry chain, while also expanding the application scenarios for AI in Traditional Chinese Medicine.

Following this financing round, Jiuhe Tang will leverage its accumulated resources in the medical sector to provide a suite of post-investment services to Xixiang Technology, including facilitating access to existing resources, formulating development strategies, integrating industry resources, and enhancing brand influence. “Jiuhe Tang favors enterprises in the big health sector that align with national industrial policy orientations. We will continue to promote the inheritance, promotion, and innovative development of Traditional Chinese Medicine (TCM) culture, while working alongside our portfolio companies to address public welfare concerns and assume greater social responsibility,” said Lin Jianbin.

Founded in 1933, Jiuhe Tang earned renown in Shanghai from its inception for its authentic medicinal herbs, genuine products, and attentive customer service. Shanghai Jiuhe Tang Traditional Chinese Medicine (Group) Co., Ltd. was jointly established by Guangzhou Wanglaoji Pharmaceutical Co., Ltd., Guangzhou Pan Gaoshou Pharmaceutical Co., Ltd., Guangzhou Chen Liji Pharmaceutical Factory Co., Ltd., Guangzhou Jingxiutang Pharmaceutical Co., Ltd., Guangzhou Zhongyi Pharmaceutical Co., Ltd., Guangzhou Qixing Pharmaceutical Factory Co., Ltd., Qianji Capital, and Kaihui Fund. In 2011, it was awarded the “China Time-Honored Brand” title by the Ministry of Commerce, gaining deep consumer trust and government policy support. Leveraging the brand reputation of a national-level “China Time-Honored Brand,” Jiuhe Tang enjoys prestige both in Shanghai and overseas. Currently, the Jiuhe Tang Group has built an integrated medical and health industry chain encompassing four core sectors: medical and elderly care services, pharmaceutical supply chain systems, health management, and independent product development.