New Cloud Medical, The Leading Pain Specialist Medical Association Nabs 20 million yuan in Series A Financing Round

On April 3, 2019, Xinyun Medical Technology Co., Ltd (New Cloud Medical) has announced the completion of 20 million RMB ($2.9 million) Series A financing. The investment was led by JC Capital, with the addition of existing investors Legend Star, Zhonglu Capital. A new investor Lao Larou Fund also took part in the current financing round. Founder of New Cloud Medical Yun Zhao said the financing will be used to expand its public healthcare service system and the research and development of innovative medical devices for pain treatment.

Till this day, New Cloud Medical received nearly 10 million RMB of pre-A round financing from Legend Star in November 2017. In October 2016, the company obtained the seed round financing of 1.2 million RMB led by LeanoneAngels Community. In December 2016, they got angel round financing of 5 million RMB led by Zhonglu Capital.

New Cloud Medical is the leading pain specialist medical association in China. It relies on the specialists in the nation, the Sino-Japanese Hospital Pain Specialist Medical Association, the national telemedicine platform, the top hospital brand, and the expert resource library, making full use of the advantages of international pain disciplines. Construction of national, provincial, municipal, and county pain cloud platform grading clinics. Providing pain-specific specialty treatments to city-level and county-level public secondary hospitals while creating city-level and characteristic pain departments, improving the pain treatment, and building a professional and comprehensive network of consultation and a long-term operation system.

In addition to the TaaS cloud platform for public hospitals across the country, which is the nation’s first artificial intelligence system for the field of pain medicine. New Cloud Medical also has an intelligent hardware product --a kind of patch, which is a small percutaneous electric stimulation therapeutic instrument, but much lighter than the hospital one and can relieve pain in 30 seconds. Zhao Yun introduces that the patch uses TENS (Transcutaneous electrical nerve stimulation) technology to prevent pain signals from being transmitted to the sensory center, so as to relieve pain. By using Bluetooth, it connects with the app and records data. After collecting this data, the platform can assess pain level through a pain evaluation system to provide references for pain prevention and treatment.

Zhao Yun believes that the medical service market is an operation-intensive market, and how to standardize the operation and improve the operation efficiency is a challenge faced by many companies. The reason why New Cloud Medical can stand out is using their superior resources to improve the operation efficiency of the pain relief in primary care.

There are more than 20 medical institutions that are cooperating with New Cloud Medical, a7 hospitals have opened their pain department. Zhao Yun said the new funds will accelerate the expansion of their business, which is expected to provide their public healthcare services for 10 medical institutions this year, as well as the launching of the chain pain center featuring daytime surgery.

The investment director of Legend Star Wang Yi, investment director of Legend Star, said, "With the improvement of people's consumption level and health awareness, the demand for pain treatment will usher in a structural change. At our first investment, New Cloud Medical was just a start-up, but it had the support of the top pain experts in China. We hope Zhao Yun can make bold attempts to really bring the medical resources to the grassroots level and meet the actual need of medical care, which is also in line with the hierarchical medical system advocated by our country.

Founded in January 2014, JC Capital is a venture capital institution specialized in early and mid-stage investment. The company mainly invest in technology innovation-driven companies and focus on their innovative business model. JC Capital manages 3 funds with a duration of 8+2 years. By the end of 2018, it has invested in more than 40 companies. With rich experience in technology, finance, management, and resources, JC Capital helps companies to commercialize and continue to create higher returns for its investors.

Zhonglu Capital is a China-based private investment firm founded in 2015. The firm is specializing in technology, media, local lifestyle, social network, online finance, and e-commerce.

Legend Star helps entrepreneurs to create great businesses through investments, CEO training and entrepreneurs’ alliance. Legend Star is the independent early-stage investment arm of Legend Holdings. Legend Holdings is the parent company of Lenovo, Raycom Real Estate, Joyvio Agribusiness and a large range of fast-growing Chinese companies. The company mainly invested in the fields of artificial intelligence, TMT, medical and health. Such as intelligent machines, Internet transformation of traditional industries, biotechnology and medical devices. Since 2008, Legend Star has incubated and invested in nearly 600 companies and is deeply integrated in the Chinese entrepreneurial ecosystem.

LeanoneAngels Community has a deep understanding of the developing trend of various industries and markets. By using its own resources as well as the 11352 methodology, which teaches investors to better evaluate the risk l of investment projects, and verify projects with minimum cost. The company also helps angel investors to find good projects and create interest among the investors.