Sony and Abbott-backed incubator Rainbow Medical has attracted the support of China-based corporates ZTE and Ping An, raising $25m.
Rainbow Medical, an Israel-based incubator that specialises in medical devices startups, secured $25m yesterday from investors including insurance company Ping An and telecommunications company ZTE.
A range of unnamed China-based venture capital funds also participated, as did investment and financial management firm YongJin.
Healthcare company Abbott and medical device company Medtronic contributed to a $50m fund raised by Rainbow in 2012. The incubator received $5m in funding from cardiac device maker Sorin and $10m from electronics conglomerate Sony in 2013.
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