AVCJ

Tencent backs Chinese healthcare cloud services platform

  • Larissa Ku
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Kyee Technology, a Chinese digital medical platform has raised RMB430 million ($64 million) in a Series D round led by Tencent Holdings. Other investors include Longmen Capital, Dyee Capital and Royal Sea Capital.

According to AVCJ Research, SBCVC invested RMB55 million in the company in 2012. This was followed by a RMB93 million commitment two years later featuring CDH Investments and SBCVC. The latter returned in 2015 and 2016 with rounds of RMB221 million and RMB97 million, respectively.

Established in 2004, Kyee provides medical cloud, smart ward, and hospital resource planning (HRP) services. It claims to have worked with 13,000 medical institutions and village clinics, including 700 top tier hospitals, helping them improve efficiency and service quality.

The company will collaborate with Tencent on furthering cloud-based smart medical services, according to a statement.

Other recent investments in China's healthcare software-as-a-service (SaaS) space include a RMB100 million Series B for Mingyi Zhonghe led by Sinovation Ventures. The company brings online clinic management to less-developed areas, collating prescriptions, medical records and patient information, and connecting with larger hospitals when required.

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