CCV leads Series B for Chinese AI player Shukun
Shukun, a Chinese company that provides artificial intelligence (AI) technology used in the treatment of cardiovascular diseases, has raised RMB200 million ($29 million) in a Series B round led by China Creation Ventures.
Several Series A investors also participated, including Huagai Capital and Morningside Venture Capital, as well as its angel round investor Marathon Venture Partners.
The fresh capital will be used to enhance the company’s R&D efforts and expand coverage to more treatment areas, including cancer and nervous system conditions. The company’s ultimate aim is to provide solutions for brain, lung, breast and prostate cancer, in addition to heart disease.
Founded in 2017, Shukun has three core products: a smart medical imaging platform and a big data-powered R&D platform, both of which help improve the efficiency and accuracy of diagnoses, and a hospital ward management system.
It claims to be the only company that has developed mature AI solutions for treating heart disease. These solutions are now used by more than 100 hospitals in China. Last year, Shunkun partnered with over 10 hospitals on studies the application of AI technology to examinations for coronary artery disease.
“By achieving a market-leading position in AI treatment solutions for cardiovascular diseases, Shukun has proved its ability to understand the needs of treatment providers. We believe the company can become the number one player in the medical imaging market,” said Wei Zhou, a founding partner of CCV, in a statement.
Other recent investment activity in this space includes an Intel Capital-led commitment to Huiyi Huiying, a medical imaging technology developer, and a $47 million investment in Beijing Infervision, which uses AI and computer vision to detect lung cancer.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.