H Robotics draws $10mn in series B round pre-IPO fundraising

H Robotics, a Korean rehabilitation robot device developer, said on Monday it has raised 12 billion won ($10 million) in a series B round of funding to speed up commercial developments and overseas market penetration while prepping to go public on the Kosdaq market next year.

The latest investment round led by Posco Capital was attended by Hana Financial Investment, Shinhan Venture Investment, Openwater Investment, DSC Investment, Schmidt, BNK Venture Investment, and L&S Venture Capital, among others.

In particular, DS Asset Management, known for its track record on investment in non-listed companies, drew attention for its acquisition of H Robotics shares which will be locked up for one year after the firm’s listing. This reflects the investor’s confidence in H Robotics’ business outlook and growth potential.

H Robotics is developing a healthcare solution centering on ‘rebless’, an integrated rehab solution that combines a robot technology-based rehab exercise device and a platform that enables remote health consulting.

The company recently signed a domestic sale contract for the device through KyongBo Pharmaceutical. In addition, rebless was selected as an innovative prototype by the Public Procurement Service, boding well for sales both in public and private markets.

H Robotics kicked off its IPO process in March by selecting Hana Financial Investment as its lead manager.

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