Rivamed Completes Hundreds of Millions RMB Series B Funding to Advance Comprehensive HIoT Solutions for Smart Hospitals

In January 2021, Zhejiang Ruihua Kangyuan Technology Co., Ltd. (hereinafter referred to as “Ruihua Kangyuan”) announced the completion of its Series B financing round, amounting to hundreds of millions of yuan. The round was led by SDIC Venture Capital Co., Ltd., with participation from China Creation Ventures (CCV), Delta Capital, and existing investor Yueyin Medical Fund. The funds raised will support Ruihua Kangyuan in product development for its smart hospital construction solutions, the establishment of the Ruihua IoT platform, and the expansion of businesses such as AI- and IoT-enabled smart management applications.

Shi Danjie, Chairman of Rivamed, stated, “Since its establishment in 2014, Rivamed has been deeply engaged in the field of smart hospital construction. It has become a leading high-tech enterprise in China that provides comprehensive solutions based on medical Internet of Things (IoMT) technology for the integrated management of personnel, materials, and equipment information. Striving for further progress from an already high standard, we believe that with the trust and support of our partners, Rivamed will continue to deepen industry-academia-research collaboration with hospitals and clinical institutions. Relying on collaborative innovation within our team, Rivamed is committed to consolidating its foundation and leveraging current momentum. Adhering to our service principle of ‘Quality First, Superior Service,’ we are determined to become a leading medical IoMT solution provider in China and a world-class enterprise, thereby realizing our shared vision.”

In recent years, driven by policy support and the proactive exploration of healthcare institutions, the development of smart hospitals has gained significant momentum. The Outline of the “Healthy China 2030” Plan, issued in October 2016, explicitly states: “Establish an information platform for medical quality management and control; promote breakthroughs in key technologies such as precision medicine and smart healthcare; standardize and advance ‘Internet + Health/Medical Care’ services, and innovate service models for internet-based health and medical care.”

Based on this, Rivamed places users at the core and, addressing the complexities of healthcare workflows, leverages IoT, platform-based architecture, and AI to deliver solutions closely aligned with actual clinical needs. It provides comprehensive solutions for the development of smart hospitals, encompassing IoT integration, platformization, big data utilization, and intelligent automation, while covering smart management, smart medical care, and smart service scenarios in smart hospital construction.

By offering solutions that align closely with clinical needs and optimize the operational efficiency of healthcare institutions, Rivamed has deeply cultivated the smart hospital sector. It holds an 80% market share among China’s top 10 hospitals and over 40% among the top 100 medical institutions.

SDIC Venture Capital believes that in recent years, China’s implementation of the “Two-Invoice System” and “Zero Markup” policies for hospital consumables management has raised higher demands for intelligent hospital infrastructure and smart management from the perspectives of efficiency and cost, creating immense potential market space for medical IoT development. As a leading enterprise in the smart hospital sector, Rivamed has established “IoT + Platform + AI” as its core product and business line, launching multiple benchmark solutions with significant industry influence. These solutions have been rapidly deployed in top-tier hospitals across China, enabling Rivamed to build comprehensive competitive advantages in terms of market presence, product offerings, and team capabilities. SDIC Venture Capital is optimistic about Rivamed’s leading position in the medical IoT sector and its outstanding management team. It will continue to support Rivamed in enhancing its market expansion capabilities and consolidating its competitive edge, thereby contributing to the development of smart hospitals in China and further promoting the growth of the medical IoT market.

Zhou Wei, Founding Managing Partner of China Creation Ventures (CCV), stated that China’s smart healthcare market is approaching a scale of RMB 100 billion and holds immense growth potential. Rivamed’s smart hospital product line, centered on “IoT + Platform + AI,” is at the forefront in China. It offers comprehensive solutions across multiple scenarios, including operating rooms and hospital wards, demonstrating strong commercial value in clinical applications and has been fully deployed in numerous top-tier Grade A tertiary hospitals. Digital healthcare is a key focus area for CCV’s deep-dive investments. We remain bullish on the multiplier effect released by Rivamed through its medical IoT platform, as well as its pioneering role in driving automation and intelligence in the healthcare industry. Furthermore, we will foster synergistic development with CCV’s digital healthcare portfolio.

Zhu Jiang, Partner at Delta Capital, stated: “Rivamed is a rare hard-tech company in the core healthcare sector and is widely recognized as an industry leader in medical robotics and hospital-based Internet of Things (IoT). Rivamed’s comprehensive smart healthcare solutions have been deployed in multiple top-tier Grade 3A hospitals, earning strong endorsement from users. Delta Capital highly values Rivamed’s top-tier team in the ‘healthcare + hard tech’ domain, as well as its robust commercialization execution capabilities. We believe that, under the leadership of this star team with Stanford backgrounds, Rivamed will spearhead a new wave of intelligence in China’s healthcare industry.”

As an existing shareholder, Yue Yin Medical Fund is pleased to continue increasing its investment in the company. We highly recognize the company’s efforts and exploration in the field of Medical Internet of Things (IoMT). The development of IoT and artificial intelligence will greatly help healthcare institutions improve management efficiency and refined operational capabilities, particularly in core scenarios such as operating rooms and hospital wards, by establishing smart healthcare systems that integrate various data forms, including pharmaceuticals and consumables, personnel behavior, and clinical data. “Furthermore, Rivamed boasts an outstanding and ambitious management team that carries the dream of ‘building a world-class IoMT healthcare platform,’ rooted in China with a global perspective. Yue Yin will continue to uphold the philosophy of being ‘a partner beside entrepreneurs,’ consistently seeking out the most growth-oriented and innovative teams in the healthcare industry to serve as a ‘capital partner’ for entrepreneurs.”

SDIC Venture Capital, established in 2016, is a private equity fund management company specially set up by China State Development & Investment Corp. (SDIC) in a market-oriented manner to implement the national innovation-driven development strategy, deepen comprehensive strategic cooperation with the Ministry of Science and Technology, and accelerate the transfer and commercialization of national scientific and technological achievements. Leveraging platforms such as the National Science and Technology Major Project Achievement Transformation Fund, the SDIC Beijing-Tianjin-Hebei Scientific and Technological Achievement Transformation Fund, the SDIC High-Tech (Shenzhen) Venture Capital Fund, and the SDIC (Ningbo) Scientific and Technological Achievement Transformation Fund, SDIC Venture Capital consistently focuses on investment in the transformation of scientific and technological achievements. It targets key sectors including advanced manufacturing, electronic information, biopharmaceuticals, and materials and energy, while aligning with national regional development strategies in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area. The firm is committed to driving continuous breakthroughs in the independent innovation of core key technologies and building a robust investment ecosystem for the transformation of scientific and technological achievements.

China Creation Ventures (CCV) was founded in 2017 by Zhou Wei, former Managing Partner of KPCB China, who led its TMT team to establish the firm. Currently, CCV manages four funds with a total capital of $520 million and RMB 1.5 billion. The firm focuses on early-stage and growth-stage investments in industrial internet, frontier technologies, digital health, and emerging consumer demographics, adhering to a boutique investment philosophy to drive the growth of China’s technology industry.

Within three and a half years, CCV facilitated the IPOs of two portfolio companies: Wanka Online (Wan Ka Yi Lian) and Quecheng Shares. Other notable projects invested in by the team include JD.com, JD Digits, Ximalaya, Venustech, CreditEase, Rong360, Tantan, ChineseAll, Yixia Technology, Arrail Dental, Perfect Corp., and Shukun Technology.

Delta Capital, established in 2010, is a leading professional equity investment firm in China, focusing on early- to mid-stage investments in hard technology and healthcare. Currently, it directly manages thirteen funds and has invested in nearly 150 early- and early-growth-stage enterprises in fields such as chip design, big data and artificial intelligence, cybersecurity, the Internet of Things (IoT), autonomous driving, and healthcare, facilitating IPOs and M&A exits for over 30 portfolio companies. Delta Capital has been repeatedly listed among the “Top 50 Venture Capital Firms in China” by Zero2IPO Group, CVSource, Financing China, and the China Venture Capital Association, which are the most authoritative private equity and venture capital assessment institutions in the industry.

Yueyin Medical Fund is an investment institution focused on the healthcare industry, established in July 2015. Composed of a highly professional team with expertise in both healthcare and investment sectors, the fund is dedicated to advancing the development of China’s healthcare industry. It strives to identify high-growth, innovative startups and enterprises in the Chinese healthcare sector, providing comprehensive investment management services and serving as a trusted partner for entrepreneurs.