In China's Medical AI market, startups are an important force that cannot be ignored. The health care investment and financing boom are continuing to rise. From the financing cases in recent years, it can be found that huge market demand is the direct driving force for the development of medical enterprises.
◆ Synyi was awarded the 250 million Series C round of financing by Tencent
On July 3, China's Medical AI leader - Shanghai Synyi Medical Technology Co., Ltd., announced the completion of 250 million yuan of C round of financing. This round of financing was led by Tencent and Sinopharm Capital.
Previously, Synyi has been favored by many well-known investors and recognized by the national big data team, including ZhenFund, Sequoia Capital, Granite Global Ventures (GGV Capital), XIANG HE Capital, and CEC Data Healthcare Fund. The amount of its financing has exceeded 550 million yuan.
Dr. Zhang Shaodian, the founder of Synyi
Dr. Zhang Shaodian, the founder of Synyi, said that this round of financing will mainly be used to accelerate the exploration of comprehensive intelligent medical solutions. It will also help to attract more top AI and medical talents and keep Synyi’s leading role in medical AI industry.
◆ LinkDoc, the first unicorn company in Medical AI
Established in December 2014, LinkDoc is the first unicorn enterprise in the field of medical AI and big data that completed D round of financing by China Investment Corporation, in the financing scale of 1 billion yuan. Its previous rounds of investors include Long Hill Capital, New Enterprise Associates (NEA), China broadband capital (CBC), Ally Bridge Group and other well-known venture capital firms.
Jiang Xiaodong, the managing partner of Long Hill Capital
Jiang Xiaodong, the managing partner of Long Hill Capital, is the only investor in LinkDoc’s Round A financing. He highly recognized LinkDoc when it started. “I decided to invest LinkDoc after only a few minutes' talks with its founder.” Jiang Xiaodong said, “It turned out that my decision was right. Up to the first half of 2018, the penetration rate of single tumors in the LinkDoc medicine big data platform has reached 60%, far more than the American rivals."
According to statistics, the investment in Medical AI industry is booming. Up to the first three quarters of 2018, 30.8 percent of the Medical AI companies completed series A fund-raising. About half of the companies received ten million level financing. The whole financing amount reached 2.62 billion in Medical AI industry.
At present, China's Medical AI startups are mainly concentrated in the area of medical imaging. In fact, “AI + Medical Imaging” has always been recognized as the sector that is the easiest to cut in and the most likely to be commercialized.
Among the international tech giants, IBM was the first and the most competitive to enter the field of medical AI. Google and Microsoft have also set foot in this field. Although Facebook, Apple, and Amazon also pay attention to the field of AI, there are few medical AI projects in their layouts.
Among Chinese tech giants, Baidu and Alibaba have launched their own Medical AI development plans. Tencent acts as an investor, focusing on investing in Medical AI startups.
Although the enthusiasm of capital will bring Medical AI business to the forefront, for startups, how to achieve commercialization is a huge problem. At the same time, the fierce competition between the peers and the crowding out of the giants have also brought certain difficulties to these startups.
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Data Sources:
·Analysis，www.qianzhan.com
·https://baijiahao.baidu.com/s?id=1637996952678615513&wfr=spider&for=pc
·https://medicalfuturist.com/could-a-i-solve-the-human-resources-crisis-in-healthcare
·https://newatlas.com/nvidia-uk-nhs-artificial-intelligence-radiological-platform/59637/#gallery
