Kunlun Tech and IDG Capital Co-lead Investment in Keya Medical to Expand AI+ Healthcare Portfolio

Today, VCBeat (WeChat ID: vcbeat) learned that Beijing Kunlun Wanwei Technology Co., Ltd. (hereinafter referred to as “Kunlun Wanwei,” stock code: 300418.SZ) disclosed in an announcement that its wholly-owned subsidiary, Kunnuo Tianqin, plans to invest RMB 30 million in Beijing Kunlun Yiyun Technology Co., Ltd. (brand name: “Keya Medical”), acquiring a 2.42% equity stake in Keya Medical post-financing.

This investment was jointly participated in by Kunlun Wanwei, Beijing Yahui Qianfeng Equity Investment Partnership (Limited Partnership), Guangzhou Hexie Kangjian Phase II Equity Investment Partnership (Limited Partnership) (hereinafter referred to as “Hexie Kangjian”), Tibet Shulian Investment Co., Ltd. (hereinafter referred to as “Tibet Shulian”), Shanghai Gouzhu Enterprise Service Center (Limited Partnership), and other investors. Among them, Hexie Kangjian and Tibet Shulian are affiliates of IDG Capital.

Keya Medical is a technology-driven innovative enterprise dedicated to applying artificial intelligence in healthcare to achieve universal access to medical services. By integrating world-leading deep learning, medical image analysis, and natural language processing algorithms with the most advanced contemporary medical concepts, Keya Medical provides precise diagnostic and therapeutic services to patients, healthcare institutions, and life sciences research organizations.

What has brought Keya Medical widespread acclaim is its “Coronary Flow Reserve Fraction Calculation Software” (hereinafter referred to as “DeepVessel FFR”), which, after more than three years of research and development, became the first AI-based medical product in China to obtain a Class III medical device registration certificate, marking a milestone in the field of artificial intelligence healthcare in China.

Since the outbreak of the novel coronavirus pneumonia (COVID-19) epidemic, to better support medical personnel on the front lines in achieving effective epidemic prevention and control, Keya Medical has fully leveraged its extensive expertise in intelligent lesion detection, segmentation, and classification. The company rapidly deployed its self-developed “Intelligent Auxiliary Diagnosis System for COVID-19” to radiology departments at the forefront of the response, donating the system to multiple hospitals in regions including Hubei, Guangdong, Sichuan, and Shandong for clinical use.

In its announcement, Kunlun Tech stated that the investment in Keya Medical is a significant step for the company to implement its development strategy of focusing on its core internet business while investing in the Internet of Things (IoT) and artificial intelligence.

Focusing on the “AI+” sector, Kunlun Wanwei has invested in several companies over the past two years, including Pony.ai (AI + autonomous driving), Innoviz (an Israeli LiDAR company), Yangcong Academy (AI + online education), Krazybee (AI + finance, India), Dreame Technology (AI + hardware), and Fadada (AI + enterprise services). According to Kunlun Wanwei’s announcements, the company will continue to increase its investment in the “AI+” sector.

This investment in Keya Medical, an AI+ healthcare company, further strengthens Kunlun Wanwei’s AI+ ecosystem. As stated in Kunlun Wanwei’s announcement, Keya Medical’s leading technological advantages and its stable, robust core technical team will inject powerful and enduring momentum into the company’s long-term development.

Source: China News Service