A Hong Kong start-up specialising in mobile chairs has received a substantial funding boost to help its intelligent mobility solutions make inroads into international markets.
Libpet Tech received HK$23 million (US$3 million) in seed funding for its innovative motorised chairs which enables users to navigate uneven surfaces such as stairs with ease.
The chairs are equipped with advanced sensors, infrared scans and ultrasound beams to collect environmental data, allowing the device to chart optimal paths that avoid collisions. Potential use cases for the technology include serving as automated stretchers in hospitals and ferrying passengers around airports, not to mention giving new mobility options for wheelchair users.
The technology’s potential to revolutionise personal mobility is what drew Mr Song Hoi See, Founder and CEO of Plaza Premium Group, to make the multimillion investment. He cited Libpet's solutions for ageing societies, accessible transport, and autonomous travel as "transformative."
The funding round is just the latest in a string of accolades for the home-grown start-up, which include being admitted to the Hong Kong Science and Technology Parks incubation programme and winning HKTDC’s Start-Up Express in 2024.
According to Libpet’s Co-Founder and CEO Jojo Xu, most of the new funds will be invested in refining the current product mix which include a basic model, a lightweight model and Libpet APS, a fully autonomous mobile chair.
Continual research is also essential to maintain the company’s market-leading position.
The remaining funding will be used for marketing and expanding sales beyond Hong Kong, initially targeting markets in Europe and North America, which have high healthcare expenditures and rapidly-ageing societies.
