Sunshine Insurance Group and existing backer Tencent both took part in a series D round that took the medical management software provider's total funding past $115m.
Synyi AI, a China-based developer of medical treatment management software, has raised RMB400m ($61m) in a series D round featuring internet group Tencent and insurance provider Sunshine Insurance Group, DealStreetAsia reported yesterday.
The round was led by CICC Alpha, an investment vehicle for investment banking firm China International Capital Corporation, according to a WeChat post by Tencent cited by DealStreetAsia.
Synyi’s software uses artificial intelligence to increase efficiency in clinical research, diagnosis and treatment in addition to the management of healthcare practices. It claims its revenue has risen fourfold year on year during 2020.
IT product maker China Electronics’ CEC data subsidiary joined venture capital firm Sequoia Capital China to provide $8m in series A funding for the company in 2017, investing through its China Electronics Health Fund.
Sequoia China returned for a $15.8m series B round in May 2018 that was led by GGV Capital and backed by ZhenFund. Xianghe Capital reportedly supplied over $14.5m in series B-plus funding six months later.
Synyi subsequently added $36.3m in a Tencent-led series C round in July 2019, participating together with Sinopharm Capital, an investment vehicle for pharmaceutical firm Sinopharm.