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The phrase "despite improving" is grammatically correct and can be used in written English.
It is used to show contrast between two ideas, where the second idea is unexpected or surprising given the first idea. It can be used at the beginning or in the middle of a sentence. Example: Despite improving his grades, John still struggled to pass his math class.
Exact(60)
Danny Welbeck, despite improving in other areas, has managed one.
Pandora, for instance is not yet profitable, despite improving revenue.
That means that despite improving conditions the Fed could be and should be easing further.
Despite improving in recent years, the official Spanish unemployment rate is still above 20 per cent.
Dramatic events sometimes have a special influence on the psychology of investors, driving stock prices down despite improving business conditions.
He is widely regarded as a tepid campaigner who, despite improving his public speaking, rarely electrifies crowds.
Despite improving indicators, like upswings in home values and building, many Americans remain unconvinced that the housing crisis is over.
Despite improving prices and demand, analysts said they saw little hope of Hynix's remaining independent unless it found a foreign investor to buy most of its assets.
On Tuesday, Brazil's currency declined further despite improving economic performance there, as currency traders watched the Argentine bond auction with trepidation.
Despite improving sales and seven straight profitable quarters, G.M.'s stock price is languishing around $20 after going public at $33.
The drugstore operator Walgreen said Monday that its profit fell 9percentt in the third quarter despite improving sales as greater expenses, including its reorganization efforts, reduced its income.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com