Leading Chinese Autism Intervention Provider 'Da Mi He Xiao Mi' Secures RMB 40 Million Series A Investment from Dorchester Capital
On May 17, 2018, VCBeat learned thatShenzhen-based Dami and Xiaomi, a company dedicated to early rehabilitation for children with autism and intellectual and language developmental delays, announced that it has secured RMB 40 million in Series A funding from Fortune Venture Capital.. This represents one of the few financing rounds in the field of intervention and training for autism in Chinese children, bringing an industry previously little-known to the entrepreneurial and investment communities into the public spotlight.
This round of financing for Dami and Xiaomi will be primarily used for technology introduction, product development, and the establishment of new urban centers and community-based facilities.
Autism, also known as autism spectrum disorder (ASD), is ranked by the World Health Organization (WHO) as the leading childhood mental disorder and has become a global public health issue that severely impacts children's health. Children with autism are often affectionately referred to as "children of the stars." According to official reports, the latest prevalence rate in the United States has reached 1 in 59. Conservatively estimated, China has more than 10 million individuals with autism, including over 2 million children. The number of people affected by ASD in China is no less than 4 million, and this figure continues to rise significantly each year.
Rice and Millet originated from a WeChat official account founded by Jiang Yingshuang in September 2014. Today, “Rice and Millet” has become a leading self-media platform in the field of autism spectrum disorder (ASD) and pervasive developmental disorders (PDD) in China, serving as a spiritual home for parents, communities, and professionals involved with autism. In September 2016, “Rice and Millet” expanded from online to offline operations by opening its first intervention training center in Shenzhen. Currently, it operates four intervention training centers across Shenzhen, Shanghai, and Guangzhou, and has established an experimental community-based intervention training institution for children with autism in Guangzhou, tailored to the needs of Chinese urban environments.
Fortune Capital is a China-based venture capital firm headquartered in Shenzhen. It has long focused on investments in the TMT, healthcare, and consumer services sectors, growing into one of the largest, most capable, and influential investment institutions in China. Fortune Capital was ranked No. 5 among the “Top 100 Best Venture Capital Firms in China” and No. 3 among the “Top 50 Best Chinese Venture Capital Firms” in 2017, and was also listed among the “Top 10 Venture Capital Firms with the Best Returns in China.” The firm ranked first overall in 2012 and 2015.
“Rice and Millet” also represents a case of traditional media professionals transitioning into new fields. Its founder, Jiang Yingshuang, and many of his early collaborators came from the Nanfang Media Group. Jiang Yingshuang worked at Southern Metropolis Daily for over ten years. He was a well-known news interview journalist in China and the first chief reporter selected by Southern Metropolis Daily.
Jiang Yingshuang believes that there is a critical need in China for highly professional intervention and training institutions for children with autism, which is precisely why “Rice and Millet” expanded from online services to offline centers. For a long time, although numerous domestic intervention and training institutions have existed, their quality has been uneven. Some organizations, developed in the form of non-governmental organizations (NGOs) such as parent communities, have had commendable intentions but have struggled to provide specialized and standardized services. The golden window for intervening in childhood autism is between the ages of 1 and 6; missing this period can impose a lifelong burden on both the child and the family. Over the years, “Rice and Millet” has successively introduced many outstanding industry experts from the United States, Japan, Taiwan, and Hong Kong, and has established a teacher training system tailored to the needs of Chinese children with autism.
The Fortune Dawn project team stated, “After conducting in-depth research into this industry, we chose Damai and Xiaomi. On one hand, we endorse the company’s strategic direction, business model, and implementation path; on the other, we recognize Damai as the visionary leader and the team she has built. From a compassionate WeChat official account to a chain of brick-and-mortar institutions driven by social mission, Damai and Xiaomi has achieved rapid growth and transformation. At this stage, Damai and Xiaomi may not yet be a company with top-tier management standards, but it is the most committed to investing in attracting and nurturing talent, and the most eager to change the status quo of this industry. We hope that through this investment, we can support Damai and Xiaomi’s exploration in the field of rehabilitation for children with special needs, channel more social resources into this sector, and provide more children with special needs the opportunity to integrate into society and enjoy equal living conditions.”
Xiao Bing, Executive Partner and President of Shenzhen Fortune Venture Capital, also elaborated on the reasons for choosing “Damai and Xiaomi.” From a business perspective, the market for intervention and training services for children with autism is both inelastic and underserved. The reason Fortune Venture Capital invested in Damai and Xiaomi lies in its appreciation for the entrepreneur’s social commitment and the company’s capacity to address societal challenges. Xiao Bing believes that Damai and Xiaomi is an institution that prioritizes service quality over short-term commercial gains, demonstrating the courage to make long-term investments and earning customer trust through word-of-mouth reputation—qualities that he and Fortune Venture Capital highly value.