Ten year review | Financing timeline for domestic intelligent prosthetics: from 2015 to 2026, how can capital bet on the prosthetic track?
Artificial limbs are an important carrier for amputees to regain mobility. In the past, the domestic market was long suppressed by imported prosthetics, resulting in high prices. This article reviews the financing situation of the domestic intelligent prosthetic market from 2015 to 2026, and identifies the ten-year capital development trajectory of domestic intelligent prosthetics.
2015: Sprout of the race track, domestic bionic hand project receives its first angel investment
2015.09 | Aoyi Technology | Angel Round, 5 million yuan | Investor: Zhangjiang Torch Fund
The early stage project of the domestic upper limb electromyography bionic hand race has officially started. Aoyi Technology was established to initiate the research and development of electromyographic bionic hands, with the goal of creating bionic prosthetic hands that can be controlled by residual limb muscle signals. This is also the earliest traceable financing in the domestic intelligent prosthetic track.
At the same time, QiangBrain Technology was established in Harvard Innovation Laboratory in 2015, laying out non-invasive brain computer technology and launching research and development of intelligent bionic hands as core landing products.
2016 | QiangBrain Technology | Pre-A round, $5.5 million | Investor not fully disclosed
QiangBrain Technology has obtained early financing to build a brain computer underlying technology platform and initiate the development of an intelligent bionic hand prototype.
2017: Project enters Pre-A, bionic hand moves from prototype to engineering
May 2017 | Aoyi Technology | Pre-A round, 10 million yuan | Investors: Nut Capital, Qicheng Capital
After two years of research and development, the electromyographic bionic hand has completed prototype iteration, and financing has been used for product engineering development, polishing hardware structure and electromyographic algorithm.
2019: Birth of lower limb power prosthetic project; Strong Brain Achieves Large A-round, Biomimetic Hand Goes Out in Circles
March 2019 | BionicM for Hiking | Seed Round, Approximately $1 Million | Incubation at the University of Tokyo
Hiking biomimetic technology was incubated by a laboratory at the University of Tokyo, focusing on the development of powered lower limb prostheses. Unlike passive prosthetic knee joints on the market, it relies on electric motors to actively assist amputees in climbing hills and going up and down stairs. Seed round funds will be used for the research and development of a prototype of a powered prosthetic, and the subsequent layout will include both Chinese and Japanese headquarters.
2019.01 | QiangBrain Technology | Series A, $400 million | Investors: Everbright Holdings, Dinghui Investment, Dexin Investment, China Electronics, etc
QiangBrain Technology has completed a large Series A financing round. In the same year, its intelligent bionic hand was selected as one of Time magazine's top 100 inventions of the year, and the bionic hand product entered the engineering verification stage
2020: The track welcomes the A-round window, with simultaneous financing for both upper and lower limb technology routes
2020.04 | Aoyi Technology | Series A, tens of millions of RMB | Investors: Guangfa Xinde, Xinyuan Zhaokang, Guangzhou Sci Tech Innovation Guofa
Aoyi Technology has completed Series A, and the electromyographic bionic hand has entered the product finalization stage. Funds have been invested in hardware iteration, algorithm optimization, and the initiation of preclinical preparations.
2020.09 | BionicM for Hiking | Series A, tens of millions of RMB | Investors: UTEC, University of Tokyo Innovation Platform
Hiking biomimetic A-wheel landing, power lower limb prostheses have shifted from prototype to small-scale landing, promoting product validation and supply chain construction.
Summary: 2015-2020 is in its infancy. Three types of players on the track are on the same stage: Aoyi Technology (focusing on upper limb electromyography bionic hands), Hiking Bionics (focusing on powered lower limb prosthetics), and cross-border brain computer enterprise QiangBrain Technology (brain computer platform+bionic prosthetics). The capital is mainly composed of university incubation funds and early angel institutions, with financing scales mostly in the tens of millions. The funds are mainly invested in prototype research and development, and commercialization is still early.
2022: Entering the Pre-B round, billion yuan level financing appears for the first time, and commercialization is put on the agenda
2022.12 | Aoyi Technology | Pre-B round, nearly 100 million RMB
The first financing of nearly 100 million yuan in the domestic intelligent prosthetic track has landed. The funds will be used for clinical testing and supply chain construction of the electromyographic bionic hand prototype, and exploration of commercialization paths at home and abroad will begin. Capital is beginning to see the commercial potential of domestically produced bionic hands.
2023: B-round centralized arrival, products enter the clinical and registration battle period
2023.02 | BionicM | Series B, tens of millions of RMB | Leading investment: NEC Capital; Investors include the University of Tokyo Innovation Platform
Hikvision Biomimetic Series B financing, continuing to refine power lower limb prosthetic products, promoting product mass production and overseas medical device registration.
2023.05 | Aoyi Technology | Series B, undisclosed amount | Continued increase by old shareholders
Aoyi Technology's Series B financing focuses on clinical trials of upper limb bionic hands and domestic medical device registration applications.
Summary: 2022-2023 is a period of tough growth challenges. The financing volume has been increased to nearly 100 million yuan; The focus of capital has shifted from "technological prototypes" to clinical trials and medical device registration. The core challenges of the track are no longer just algorithms and hardware, but certification, compliance, and supply chain.
2025: Multiple rounds of financing are intensively implemented, and domestic bionic hands are accelerating their overseas expansion; Strong Brain has received two consecutive rounds of financing
2025.01 | Aoyi Technology | B+round, nearly RMB 100 million | Additional investment from existing shareholders
The funds will be used for the registration and commercialization of medical devices for the second-generation electromyographic prosthetic hand, while simultaneously expanding into overseas markets.
2025.09 | QiangBrain Technology | Pre-B round, $30 million | Investor: Dow Technology
Continuously investing in the iteration of brain computer underlying technology, promoting the clinical adaptation and overseas registration of intelligent bionic hands.
2025.10 | QiangBrain Technology | Series B, $20 million | Investor: Sanqi Interactive Entertainment Venture Capital Fund
Continue to increase the development of neural control prosthetics such as bionic hands and expand the implementation of disability assistance projects.
2025.05 | Aoyi Technology | B++round, nearly 100 million RMB | Investors: Infineon, Zhejiang Capital Operations, Womeda Capital, Zhejiang Venture Capital
Received nearly 100 million yuan in financing again, accelerating the iteration and clinical validation of OHand electromyography bionic hand products, and expanding overseas business. Aoyi continues to be the most intensive financing enterprise on the track.
2026: Track expansion, new players continue to enter
2026.01 | Senyue Xingcheng | Angel Wheel, undisclosed amount | Leading investor: Xiangfeng China; Xianfeng K2, Turing Venture Capital, Qiji Chuangtan Follow up Investment
New players appear, focusing on self-developed intelligent prosthetic knee joints worth tens of thousands of yuan, with the goal of breaking the high price barrier of imported intelligent knees. The funds will be used for mass production, domestic channel construction, and overseas expansion.
2026.01 | BrainCo | New round, approximately 2 billion yuan | Investors: IDG Capital, Huadeng International, Lansi Technology, Weir Group, etc
In this round of large-scale financing by the group, intelligent bionic prostheses are the core landing business sector, and the funds are used for brain computer platforms, bionic hand clinical trials, mass production, and FDA/CE overseas registration.
2026.03 | Aoyi Technology | C1 round, RMB 150 million | Leading investment: China International Capital Corporation Brain Science Fund, with follow-up investment from existing shareholders
Aoyi has entered the C-round stage, with financing used for capacity expansion, product development iteration, and global market promotion.
July 2026.07 | Jingling Zhikang | Angel Wheel, nearly 100 million yuan | Leading investment: Longpan Investment, Jiangxi Financial Holding, Ni Guotao, and USTC Silicon Valley co invest
A new startup focused on intelligent bionic hands has been added, with self-developed medical grade bionic prosthetic hands. This round of funding will be used for product clinical trials, supply chain construction, and commercial implementation.
September 2026.09 | BionicM for Hiking Bionics | New round, tens of millions of RMB | Leading investment: NEC Capital NVentureCapital
The new round of financing for Jianxing Bionics has landed, with funds invested in expanding sales of lower limb prostheses, developing next-generation products, applying for FDA approval, and expanding into the US market.
Summary: 2025-2026 belongs to the track expansion period.
1. The original top enterprises have entered the C-round and started a global layout;
2. Intelligent knee joint and new bionic hand startups have successively received financing;
3. Capital focus: domestication cost reduction, medical device certification, and overseas market landing.
Track Summary
1. Track pattern: Specialized prosthetic enterprises and cross-border platform enterprises jointly focus on the ten-year financing of domestic intelligent prostheses. Aoyi Technology and Hikvision Bionics are the core manufacturers in China specializing in amputation intelligent prostheses; QiangBrain Technology belongs to the category of brain computer platform enterprises, but its core medical product is intelligent bionic prosthetics, which are included in this statistics; In 2026, new players of Senyue Xingcheng (intelligent knee joint) and Jingling Zhikang (bionic hand) will receive public financing, further expanding the number of players on the track.
Additional explanation: Yijiang Technology and other companies have self-developed intelligent prosthetic products, but there is currently no public disclosure of primary market financing, so they are not included in this article. Humanoid robots with dexterous hands, rehabilitation exoskeletons, and invasive brain machines (for paralysis rehabilitation scenarios) do not belong to amputation replacement prostheses and are not included in this statistics.
2. Changes in capital logic
2015-2020: Investment in technology prototypes, mainly focused on university incubation and early angel funds;
2022-2023: Invest in clinical trials and registration, increase financing volume;
2025-2026: Commercialization and overseas expansion, with an increase in billion yuan level financing, institutions attach importance to overseas registration and global sales.
3. Industry challenges
Whether intelligent prosthetics belong to medical devices is still uncertain in China, and the research and development costs are high; The domestic assistive device payment system and medical insurance policies still need to be improved; At the same time, it faces competition from established overseas manufacturers such as Ossur. The core opportunities for domestic manufacturers lie in price reduction, localized adaptation services, and emerging overseas markets.
Editor's summary:
The assistive device industry has long been low-key, and intelligent prosthetics are a niche track. Unlike consumer hardware, it combines the strong regulatory attributes of precision machinery, biological signal algorithms, and medical devices, with a long research and development cycle and extremely high commercialization threshold. In the past, the high-end prosthetic market was basically monopolized by overseas brands, and this group of domestic entrepreneurs, some focused on prosthetic hardware research and development, while others crossed over from brain computer technology and focused on different aspects such as bionic hands, powered lower limbs, and intelligent knee joints, attempting to use self-developed technology to lower prices and make smart prostheses affordable for amputees.
The continuous increase of capital represents that the market sees the possibility of domestic substitution, but financing is only the starting point. Medical device registration, long-term product reliability, domestic assistive device payment system, and clinical service network are still several major obstacles facing the industry. After the capital boom fades away, the enterprises that can ultimately stay are those that truly address the real needs of patients. This article only compiles publicly disclosed financing information for industry exchange and reference, and does not constitute any investment advice.
Disclaimer: All financing information in this article comes from public reports (36Kr, Arterial Network, IT Orange, etc.). Part of the enterprise financing is for the overall financing of the group, and not all funds are invested in the prosthetic business. Rehabilitation exoskeleton and industrial dexterous hand projects were not included in this statistics.