Tianyu Elder Care Secures $20 Million Series A+ Funding to Lead Digital Healthcare Innovation in Aging Services

VCBeat (WeChat: vcbeat) has learned that Tianyu Pension recently announced the completion of a $20 million Series A+ financing round. The round was led by Changling Capital, an existing investor from the Series A round, with Zhongding Capital participating as a co-investor. Existing Series A investors Hillhouse and Wanwu also made additional investments. The continued and increased commitment from all Series A investors—Hillhouse, Changling, and Wanwu—in the Series A+ round underscores strong investor confidence in Tianyu Pension.

Tianyu Pension stated that this round of financing will be primarily used for the upgrading and iteration of its digital platform, enhancing its technological medical and elderly care solutions, and establishing a “gold standard” for the elderly care industry. Tianyu Pension is a smart elderly care platform company that leverages digital technology to drive the development of China’s elderly care sector. Serving the entire aging process in China, Tianyu Pension integrates numerous global technological medical and elderly care solutions around key life scenarios for seniors—“health,” “safety,” “care,” and “participation”—and has independently developed a digital system platform. After three years of rapid growth, Tianyu Pension has expanded to 113 projects across Shanghai, Jiangsu, Hubei, Guangxi, Anhui, Shandong, Henan, Shaanxi, Sichuan, Fujian, and other regions, establishing a comprehensive service system that spans home-based, community-based, institutional, and long-term care insurance services. Relying on its robust digital systems and a terminal network composed of thousands of service personnel, Tianyu Pension delivers high-quality medical and elderly care services to millions of seniors.

As China’s population ages, the number of elderly citizens is poised to surpass 300 million in the near future. This rapid demographic shift has generated enormous demand for elderly care services. However, China’s elderly care industry remains predominantly rooted in traditional, labor-intensive models, with significant room for improvement in both the capacity and quality of service provision. There is an urgent need to enhance digitalization and technological capabilities.Bu Jiangyong, founder of Tianyu Pension, explained to VCBeat: “Digitalization aims to improve efficiency and quality. Greater efficiency requires scaling up while achieving decreasing marginal costs, whereas quality improvements stem from the continuous integration of medical and healthcare solutions into elderly care scenarios. Tianyu Pension has been consistently building its digital system platform and integrating innovative med-tech and elderly care solutions. On one hand, we apply advanced cross-industry solutions to elderly care settings. For instance, millimeter-wave radar technology, originally used in autonomous driving, has been adapted for age-friendly applications through in-depth collaboration between Tianyu and relevant manufacturers, yielding positive results in elderly care environments. Similarly, AI-based fundus screening technology, initially deployed in tertiary hospitals, has been jointly refined by Tianyu and technology partners for elderly care scenarios. Following these adaptations, the technology has been introduced into street-level communities in Shanghai, Jiangsu, Hubei, Shandong, Guangxi, and other regions, providing health risk screenings for tens of thousands of seniors. It can screen for risks associated with more than 30 chronic diseases in just three minutes. Combined with elderly care services, this approach has enabled Tianyu to effectively implement digitalized medical and elderly care integration. In fact, many outstanding tech companies have already emerged in the healthcare sector, offering advanced solutions for assisted diagnosis, chronic disease management, and early screening for major illnesses. Tianyu actively seeks suitable partners across various fields, evaluates their solutions, and collaboratively refines them to better fit elderly care contexts. On the other hand, since its inception, Tianyu has focused on independently developing its digital system platform. As the platform continues to iterate and strengthen, and as tech-enabled medical and elderly care solutions become more integrated and innovative, Tianyu will appropriately open its ecosystem to peers in the elderly care industry, thereby helping to raise the overall standard of service supply in China’s elderly care sector.”

In September 2021, Tianyu Pension signed a strategic cooperation agreement with Fudan University, joining forces to establish the “gold standard” for the smart elderly care industry in China. This initiative is part of Tianyu Pension’s strategy to leverage top-tier intellectual resources. In addition to its strategic partnership with Fudan University, Tianyu Pension has engaged in in-depth collaboration with domestic and international institutions, including the University of Eastern Finland and the National Smart Elderly Care Laboratory, across various domains such as digitalization of elderly care, application of elderly care technologies, chronic disease management for the elderly, intervention and care for dementia, and training and education of geriatric social work professionals. Furthermore, Tianyu Pension has established deep partnerships with 22 renowned Israeli technology companies in the field of elderly care technology.

Jiang Xiaodong, Managing Partner at Changling Capital, the lead investor in this round, stated: “Tianyu Pension is a pioneer in China’s digitally integrated model of medical and elderly care. In less than three years since its establishment in 2019, founder Bu Jiangyong has led the team to achieve more than a 30-fold growth in business performance, while pioneering a new path that leverages a self-developed digital platform for one-stop management of home-based elderly care services, thereby integrating standardized, intelligent, and inclusive healthcare and elderly care services. As a long-term investor with deep commitments in both digital health and senior wellness, Changling Capital is optimistic about Tianyu Pension’s development and will continue to firmly support the company in providing its ‘Tianyu Solution’ for smart medical and elderly care, contributing to China’s aging society on the path toward common prosperity.”

“Is there a world of difference between China’s elderly care industry and this enterprise?” This question reflects the original aspiration of Tianyu Pension, as well as its grand ambitions. In the face of rapidly accelerating population aging, Tianyu Pension is responding to the call of the times through continuous efforts and innovation, meeting the needs of older adults, providing high-quality integrated medical and elderly care services to more seniors in China, and helping them create happy and fulfilling later years!