Bestcovered Secures Hundreds of Millions in Series A+ Funding to Advance Digital Therapeutics for Cognitive Disorders

VCBeat has learned that Shanghai Bostone Network Technology Co., Ltd. (“Bostone”) recently announced the completion of its RMB 100 million Series A+ financing round. The round was led by Cenova Capital, with participation from existing investors Long Hill Capital, GSR Ventures, and BioTrack Capital.

It is reported that this round of funding will be primarily used to actively invest in research projects, product upgrades, and business expansion both within and outside hospitals; further consolidate the company’s academic and industrial position in the field of digital therapeutics for cognitive function; and strive to achieve “universal screening” and “scientific intervention,” thereby building a nationwide digital “dementia prevention and control” system.

The value and potential of digital therapeutics lie in providing targeted solutions for long-term, chronic, and incurable diseases, essentially leveraging digital tools to integrate medical knowledge and clinical expertise to enhance patient adherence.

Specifically in the field of cognitive impairment where Bossteng is involved, the number of Chinese residents aged 60 and above is projected to exceed 300 million by the end of the 14th Five-Year Plan period. Among this demographic, approximately one-quarter are at risk of cognitive impairment, representing a substantial population base. Furthermore, cognitive impairment disorders face numerous challenges, including an irreversible disease course, easy neglect in early stages, lack of curative medications, and significant gaps in coverage and support.

Therefore, early screening, diagnosis, and intervention for cognitive impairment disorders hold substantial value, both in terms of patient benefits and health economics. Due to the limitations of traditional screening and intervention methods, digital active prevention systems for cognitive impairment have become virtually the only clinically accepted effective measure. Meanwhile, Bosteng has successfully obtained a Class II medical device registration certificate for its digital therapeutic product.

This is a plus, and the registration certificate is supported by cohort data from screening 100,000 users, among which 2,133 cases include over six months of clinical trial data with complete sets of blood test and imaging indicators. BostanAlways adhere to the rigor and seriousness of scientific research,Clinical and real-world studies are conducted with great rigor.

In terms of commercialization, digital therapeutics companies currently fall into two categories. One type follows the logic and strategies of pharmaceutical companies by developing product pipelines and obtaining Class III medical device registration certificates, a process that involves hospital inclusion, pricing approval, and physician prescribing, among other steps.

Another categoryIt is precisely this kind of To-B model as seen in Bosten.C's Business ModelCurrently, Bosteen has served over 13 million users through platforms such as Alipay, achieving broad coverage and high user engagement. The success of ToC digital therapeutics products requires delivering an excellent user experience while providing tangible clinical benefits. Bosteen enjoys a significant first-mover advantage and is rapidly strengthening its competitive moat.

First,Product ThresholdDigital therapeutics products must deeply understand users, with underlying logic that allows for continuous iteration and sufficient data volume to ensure the realization of “personalized experiences for each individual.”

Second,Academic Threshold. Bositeng continues to strengthen its efforts in areas such as industry guidelines, expert consensus statements, authoritative journals, and hospital-based collaborations, thereby solidifying its academic value.

Third,Scale Threshold. The B2C model of digital therapeutics must achieve scale by leveraging traffic and data. In the online sector, Bositeng is the largest, if not the sole, partner specializing in cognitive disorders on platforms such as Alipay, JD.com, and Pinduoduo. Offline, Bositeng is also collaborating with numerous government departments to co-develop cognition-friendly communities.

Fourth,Ecological Threshold. Bosteng has obtained qualifications and honors across various sectors, including government, healthcare, technology, insurance, and elderly care, making it the first name that comes to mind for ecosystem partners when they think of digital therapeutics for dementia.

Furthermore, Bosteam’s core team comprises executives from the health technology sector, artificial intelligence experts from Silicon Valley, and distinguished scientists in the field of brain health. With decades of accumulated expertise in technology and product development, along with extensive industry experience, the team possesses a highly multidisciplinary profile.

Lu Xiaoxiang, CEO of Bositeng CompanyIndicates:“Digital therapeutics is a promising yet challenging sector. Through our team’s relentless efforts, we have achieved significant breakthroughs in commercialization and gained widespread recognition from end-users, hospital experts, and government agencies, thereby paving the way for the development of digital therapeutics in the field of cognitive impairment. While ensuring efficacy and high accessibility, our product also aligns with the national policy direction of promoting inclusive healthcare. We extend our gratitude to Cenova Capital, Long Hill Capital, GSR Ventures, and BioTrack Capital for recognizing the unique clinical value and potential of digital therapeutics in brain diseases, particularly in cognitive impairment, and for their continued and steadfast support. We believe that our persistence will help older adults worldwide overcome their fear of Alzheimer’s disease.”

Zhang Min, Managing Director of Cenova CapitalIndicates:China has a population of nearly 50 million individuals affected by Alzheimer’s disease (AD) and mild cognitive impairment (MCI). Early screening and intervention can reduce the risk of developing AD, delay its onset, and offer significant clinical and health economic value. However, China currently lacks a simple and effective system for early screening and intervention. Bosteng has developed a comprehensive whole-course management solution for cognitive disorder screening and intervention. By combining digital screening and intervention products with offline services, this model effectively improves the coverage and efficacy of early AD screening and intervention. We look forward to the company leveraging its existing advantages in product development, scale, academic research, and ecosystem partnerships to continue creating value for individuals with cognitive impairments in China. We are pleased to partner with Bosteng and support its journey toward becoming a leading enterprise in the AD and MCI fields.

Jiang Xiaodong, Partner at Long Hill CapitalDenotes:“Although the pandemic has seen repeated resurgences, the pace of population aging in China has not slowed. Under the leadership of Mr. Lu, the Bostent team has not only overcome the challenges posed by the pandemic but also achieved significant progress in academic research, product commercialization, and financing. This not only demonstrates the team’s strong execution capabilities but also underscores the robust resilience of demand in the emerging market for aging-related solutions. As the company’s exclusive angel investor, Long Hill Capital is delighted to see Bostent gaining widespread recognition from an increasing number of partners. We welcome Cenova Capital as a new shareholder to the Bostent family, joining forces to drive breakthroughs in digital therapeutics for dementia.”

Zhu Xiaohu, Managing Partner at GSR VenturesIndicates:“Aging and the broader health sector represent a golden track for China over the next decade. Against the backdrop of China’s ongoing population aging, digital therapeutics focused on brain health can significantly improve the health status and quality of life of the elderly in China, offering substantial commercial potential and growth opportunities. Bostern Technology is undoubtedly a leading company in this field. GSR Ventures has full confidence in the company and its team, will continue to increase its investment, and looks forward to the company delivering better services to every senior citizen.”

Liu Kai, Executive Director of BioTrack CapitalIndicates:“In recent years, we have witnessed significant clinical progress in digital therapeutics for mental health disorders globally. However, among mental health conditions, cognitive disorders—which affect the largest patient population—have long lacked adequate diagnostic and therapeutic tools. Over the past few years, Boston has been deeply engaged in continuous innovation within the field of cognitive disorders, sequentially launching globally leading digital therapeutic products for diagnosis and treatment. The company has achieved progress in both clinical development and commercialization that exceeds our expectations, and we look forward to its products benefiting more patients worldwide as soon as possible.”

Cenova Capital, established in 2010, is one of the earliest professional funds in China dedicated to investment in the healthcare and life sciences sectors, committed to promoting the transformation, upgrading, and innovation of China’s medical industry. Cenova Capital currently manages seven healthcare-focused funds, with capital commitments from renowned international and domestic institutional investors, including Asian sovereign wealth funds, government agencies, domestic and foreign insurance and financial institutions, and multinational corporations.

Long Hill Capital, established in 2016, is a new generation of theme-driven venture capital fund. The founding partners of Long Hill Capital come from NEA (New Enterprise Associates), one of the largest venture capital funds in the United States, and were responsible for NEA’s investments in China from 2005 to 2015. In the fields of healthcare and aging, Long Hill Capital is committed to investing in technology-driven business model innovations, making longevity a gift of life for everyone in China’s rapidly aging society. Long Hill Capital has offices in Shanghai and Beijing, currently managing a total fund size of RMB 6 billion. Its investors include endowments from globally renowned universities and hospitals, foundations, pension funds, top-tier fund-of-funds, and other premier institutional investors.

GSR Ventures was founded in 2004 and has become one of the most successful early-stage venture capital firms globally, managing both U.S. dollar and RMB funds with over $3 billion in assets under management. The firm focuses on investing in high-tech startups, seeking opportunities with exceptional teams, large market potential, core proprietary intellectual property and technologies, and the capability to become industry leaders. GSR Ventures was an early institutional investor in outstanding startups such as Didi Chuxing, Ele.me, Inke Live Streaming, Qunar, Shanghai Dazhihui, and Xiaohongshu.

BioTrack Capital, established in 2017, is a specialized investment firm dedicated to investing in and incubating outstanding healthcare startups in China. BioTrack Capital invests in innovative biotechnology, advanced medical technologies, and novel healthcare business models in China, boasting strong capabilities in deal sourcing and value creation. The founders and team members of BioTrack Capital come from healthcare startups, leading domestic biotechnology companies, multinational pharmaceutical corporations, and renowned professional service firms in the healthcare sector. They possess extensive experience in entrepreneurship, R&D, operations, and investment within the healthcare industry, along with deep industrial resources and rich sector expertise.