PaiYiPai Secures RMB 30 Million Series A Funding and Opens Core Technologies to Empower B2B Healthcare Innovation

According to VCBeat, Paiyipai, a technical team focused on the application of machine vision in mobile healthcare, has announced the completion of its RMB 30 million Series A financing round. The round was led by New Vision Ventures Health Fund, with participation from Beijing Union Capital Investment Management Co., Ltd., Han Xiaohong of Ciming Health Checkup, and the company’s angel investor, Redpoint Ventures. Wanwei Law Firm served as legal counsel to the company, assisting in the completion of the transaction.

Wu Shizhan, Founder and CEO of MEDP.AI, stated that MEDP.AI is a team with a strong technological background. Following this round of financing, MEDP.AI will fully open up its core technology and expand into three major B2B business lines, namely:

1. Fully open up medical document photo recognition technology to build a cloud-based photo recognition platform; for instance, MEDP.AI has established in-depth cooperation with Ci Ming Ji Health, providing photo recognition technology to the latter.

2. Deliver technical capabilities to healthcare and pharmaceutical institutions by providing “Internet+” technology services, primarily including big data, artificial intelligence, computer vision, data mining, and information systems.

3. Technical VC: Serving as the technical co-founder for mobile health startups, helping entrepreneurs with traditional pharmaceutical backgrounds overcome the challenge of “having ideas but lacking technical expertise,” guiding product design and development from 0 to 1, and delivering high-quality apps for startups within a short timeframe.

This means that Pai Yi Pai, as a technical team specializing in the photographic interpretation of medical visualization documents, will use photo recognition services as an entry point to connect medical information across various stages through a B2B model, thereby addressing the pain points of poor information flow among patients, doctors, hospitals, insurance institutions, and other medical apps.

New Vision Ventures Health Fund, the lead investor in this round, is a RMB-denominated fund focused on investments in the healthcare sector. Recognized within the industry as a capital partner with extensive resources, its “industry + capital” investment model, coupled with strong resource integration and post-investment management capabilities, will help MEDP.AI establish a stronger foothold and achieve greater growth in the healthcare industry. Lu Dongcheng, Executive Partner at New Vision Ventures Health Fund, stated, “MEDP.AI is a team with ‘wolf-like’ determination, driven by a commitment to transforming healthcare through technology. Moreover, their technology possesses a rare quality; it is the seasoned experts on the team and their sophisticated technical expertise that motivated New Vision Ventures to invest in them.”

Ms. Han Xiaohong, President of Ciming Health Checkup Management Group and a renowned industry entrepreneur, stated that the investment in MEDP.AI is highly significant. MEDP.AI’s image recognition technology offers a viable solution to the pain points in the mobile healthcare sector, providing strong impetus for the industry’s sustained development. The team can help various stakeholders in the mobile healthcare industry address the challenge of collecting medical data.

It is reported that MEDP.AI boasts a lean and efficient technical team of dozens, with members hailing from diverse fields such as healthcare, the internet, and information technology. Over 70% of the team members hold master’s degrees or higher. The core members are senior experts in their respective fields, having published dozens of papers and secured numerous patents in areas including machine vision, machine learning, information security, and medical technology. Currently, the company’s core technology is an intelligent engine for capturing, recognizing, and parsing medical documents, encompassing key proprietary technologies such as medical document image acquisition and recognition, and comprehensive parsing of medical terminology. The team also possesses substantial research and application expertise in big data mining and related areas.

Bao Yueqiao, the pioneer of the Chinese character system, the father of UCDOS, and a founding partner of Yilian Capital, mentioned that the decision to invest in MEDP.AI was driven by the team’s domestically leading technology and their vision to leverage these technologies to address challenges across various aspects of the internet healthcare sector.

Zhang Han, Managing Director at Redpoint Ventures, the angel-round investor in MEDP.AI, stated that following this round of financing, MEDP.AI has expanded its future business development direction to better leverage the team’s technological advantages. He expressed confidence that this business adjustment will bring MEDP.AI broader markets and opportunities than before.