China healthcare big data platform gets $30m Series B
Weimai, a Chinese healthcare-focused big data platform that operates on a city-by-city basis, has received $30 million in Series B funding led by Cenova Ventures, Source Code Capital, Vision Plus Capital, and Matrix Partners China.
The company was founded in 2013 and received seed funding from Source Code and two individual investors – Eddie Wu, a co-founder of Alibaba Group who chairs the company's Ali Health subsidiary, and Shuguang Wu, a member of the founding team at Tencent Holdings – two years later. In 2016, Weimai launched its internet-enabled healthcare platform.
The objective is to facilitate the localization and integration of healthcare services. Weimai's big data platform allows patients to make appointments with doctors, receive online consultations, and make payments. It can also be used by healthcare professionals to store and manage medical records online, distribute prescriptions, coordinate ongoing treatment of chronic diseases, and make remote diagnoses.
Weimai has signed cooperative agreements with hospitals in more than 70 cities and wants to reach 150 in its next growth phase. The company's CEO added that the new funding would also go towards expanding the scope of its services and improving online and offline services provided to hospitals.
According to AVCJ Research, the RMB40 million ($6.3 million) seed round in 2015 was followed by a RMB120 million Series A in 2016. Lighthouse Capital, Matrix, Source Code and Vision Plus were the investors.
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