China cloud radiotherapy start-up Allcure raises $27m
Beijing Allcure Medical Technology, a Chinese medical start-up that develops cloud-based radiotherapy technology, has raised an extended Series A round of funding worth RMB180 million ($27 million).
The extened round, which is led by domestic PE firms Zhengheci Capital and Lain Fund, brings Allcure's total Series A funding to RMB210 million, following a RMB30 million commitment in last June.
The company was founded by Zhen Cheng, who also set up US-listed Concord Medical Service Holdings, a Chinese radiotherapy and diagnostic imaging equipment leasing business.
Allcure applies big data and cloud computing technology to tumor diagnosis and treatment. The company has already formed partnerships with 14 Chinese provincial level cancer treatment hospitals and 290 primary hospitals in lower-tier cities. The new capital will be used for R&D and recruitment, the company told 36kr.
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