/Tech financing in China this week – Alibaba subsidiary invests in medical imaging cloud, & more

Tech financing in China this week – Alibaba subsidiary invests in medical imaging cloud, & more

Don’t miss out these headlines for the week: Android developer gets USD 70 M from investors including Qihoo 360; Second-hand car platform backed by 58 Ganji lands USD 204 M; and Financial big data platform gets USD 15 M from Tencent.

Photo from www.csdn.net.
Photo from www.csdn.net.

Chronic disease management app gets USD 3.8M for its algorithms

Dora Zhang

CareLinker, chronic disease management platform, received RMB 25 million (USD 3.8 million) in a Series A financing round led by Zhejiang Yongtai Technology and Fujian Yingke on Wednesday.

Zhejiang Yongtai Technology, a listed company, made an announcement on Wednesday that it has injected RMB 21.6 million into CareLinker and will hold 19% of its stake. At the same time, CareLinker received another RMB 3.4 million from Fujian Yingke, bringing the total fundraising amount to RMB 25 million.

According to the announcement, CareLinker will use this round of financing to promote its products in retail pharmacies to improve the company’s user database and background operating system, complete clinical research into a risk prediction and intervention model for chronic diseases, and recruit more IT developers and salespeople.

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Photo from pixabay.com

Android developer gets USD 70 M from investors including Qihoo 360

Eric Sun

Holaverse, a Shanghai-based mobile internet technology company, has received USD 70 M in a new round of funding.

This round of funding is led by Addor Capital, a Nanjing-based venture capital group, followed by Chinese cyber security giant Qihoo 360 and Yi Capital, a capital fund focusing on early stage and growth stage investments in the telecommunications, media, and technology (TMT) sector. The investment will mainly be used for team building, technology research and development, and global market expansion, according to NetEase News.

“The funding can help us bring in top-level talent from all over the world and continue to develop new products. At the same time, we will promote the construction of a global mobile gaming and social media platform,” said Xie Feng, founder of Holaverse.

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Photo from pai.chexiang.com.
Photo from pai.chexiang.com.

Second-hand car platform backed by 58 Ganji lands USD 204 M

Jack Niu

C2C second-hand car trading platform Guazi.com completed a USD 204.5 million round of financing, according to 58.com’s Sina Weibo. According to the Weibo post, investors who participated in this round of funding include several world-famous investment agencies, but detailed information is not yet available.

According to an internal letter from the CEO of Guazi.com, Yang Haoyong, the company has expanded coverage to 75 cities in China over the past 16 months and has 4,000 employees to date. The letter also says the company recorded 1,027 cars sold on March 10 with a turnover of RMB 83.72 million on that day.

The new funding will be used to further scale-up the company’s presence in the used-car market, improve car valuation systems and build a standardized system for promotion across all industry chains.

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medical
Photo from Baidu Images.

Alibaba subsidiary invests in medical imaging cloud

Dora Zhang

AliHealth, a subsidiary of Chinese e-commerce giant Alibaba, announced on Monday that it has injected RMB 225 million (USD 34.6 million) into Wanliyun, a cloud platform for medical imaging, taking 25% of its stake.

Wanliyun’s parent company Beijing Wandong Medical Equipment also made an announcement on Monday confirming this information.

According to the announcement, AliHealth and Wanliyun will set up a third-party imaging center to provide remote medical image diagnosis and related services for patients, physicians and hospitals.

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Photo from www.donews.com.

Financial big data platform gets USD 15.35 M from Tencent

Eric Sun

Yuanbaopu, a financial big data service platform, announced that it has secured RMB 100 M (USD 15.35 M) in Series B financing, tech news site 36kr reported on Friday.

This round of financing is led by Chinese tech giant Tencent, followed by Banyan Capital, a Beijing-based venture capital group focusing on early stage and growth stage investments in the telecommunications, media, and technology (TMT) sector.

“The funding will be mainly used to optimize client services, improve service quality and strengthen research & development to help financial institutions reduce their operating costs,” said Chen Ruigui, the CEO of Yuanbaopu.

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