Singapore impact investor ABC Impact has led a $42 million Series D fundraising round in Da Mi & Xiao Mi, a provider of therapy and rehabilitation services in China for children aged between 3 and 12 years old with Autism Spectrum Disorder (ASD).
Private equity and venture capital firm Grand Flight Investment also participated in this round. Existing investors in the company include global healthcare-focused investment firm OrbiMed and Chinese early growth stage healthcare investment firm YuanBio Venture Capital.
Da Mi & Xiao Mi is among the largest providers of early intervention services for ASD in China. It operates in 30 locations across 14 major Chinese Tier 1 and 2 cities, providing in-person behavioural therapy for children with ASD, as well as offline and online training for parents and caregivers, to manage their children’s special needs at home.
With a presence in all key regions across China, the company is now accelerating its growth geographically into additional Tier 1 and 2 cities.
It is also developing new services such as 1-to-many classes as well as an expanded online syllabus, that will amplify and extend intervention therapy benefits to more children and families across the country at more accessible price points.
ASD often tends to be neglected or even misdiagnosed, resulting in a low degree of attention and resources allocated to address the condition.
According to independent private research commissioned by ABC Impact, the diagnosis rate for ASDs in China is about 31% in Tier 1 Cities and 3% in Tier 4 cities. About 50% children with ASD in China do not attend school.
For children diagnosed with ASD, early intervention significantly improves quality of life for the child as well as his or her family.
Parents and caregivers who are trained to positively engage children with ASD at home often experience lower levels of stress and anxiety.
“Supported by evidence-based methodology and a committed team of professionals, the founders of Da Mi & Xiao Mi have been resolute in their mission to enhance the quality of life for children with ASD and their families,” said ABC Impact chief investment officer Tan Shao Ming.