HY Medical Secures Strategic Investment After Three Years of High-Speed Growth in AI Medical Imaging

November 7, 2018, Beijing — Today, Huiyi Huiying, a leading enterprise in artificial intelligence for medical imaging, announced that it had previously received joint investment from Intel Capital and Chipone Investment. VCBeat (WeChat ID: vcbeat) has learned that this round of financing was strategic in nature, with the raised funds to be used for business development, product innovation, and team expansion. Huiyi Huiying is the first medical AI company invested in by both firms in China.

Huiyi Huiying is a global medical imaging artificial intelligence company dedicated to the in-depth application of computer vision and deep learning technologies in the healthcare sector. The company has previously received investments from multiple funds, including CDH Investments, Data Capital, BlueRun Ventures, and Shuimu Yide. Since its establishment in 2015, Huiyi Huiying has been experiencing rapid growth. Currently, the company has established clinical and research collaborations with more than 800 medical institutions in China, including the Chinese PLA General Hospital (301 Hospital), Peking Union Medical College Hospital, and Beijing Friendship Hospital, as well as several medical consortia. Furthermore, it has expanded its business operations to the United States, Japan, Southeast Asia, India, Europe, and other regions.

Dr. Chai Xiangfei, Founder and CEO of Huiyi Huiying, stated, “After three years of rapid development, Huiyi Huiying has established a complete data chain and service chain in the digitalization, mobilization, and intelligentization of medical imaging, and pioneered the commercialization of artificial intelligence in the healthcare sector in 2017. In 2018, Huiyi Huiying introduced a patient-centered product design philosophy, launching a series of innovative solutions, including the AI research platform for aortic dissection released earlier this year, which features the world’s first automated segmentation method for Type B aortic dissection. Huiyi Huiying is actively promoting interdisciplinary education by establishing joint laboratories with leading medical institutions and research organizations to collaboratively cultivate professionals skilled in both medicine and engineering.”

Huiyi Huiying has maintained a business partnership with Intel, having previously established a joint artificial intelligence laboratory. In September 2018, Intel collaborated with the Pink Ribbon Campaign of *Fashion Health* to launch a breast cancer prevention and control initiative themed “Care for Breast Health, AI Should Not Be Delayed.” Concurrently, Intel and Huiyi Huiying announced the joint development of an “AI-Based Full-Cycle Breast Health Management System” to enhance the efficiency of early screening, diagnosis, and treatment of breast cancer. Intel’s investment will bolster Huiyi Huiying’s R&D capabilities, expand its influence in international markets, and accelerate its emergence as an industry leader.

Lin Lizhong, Vice President of Intel Capital and Managing Director of International Business, stated: “Intel is committed to driving data-driven technological innovation and supporting intelligent breakthroughs and practical applications in China’s technology industry. Huiyi Huiying represents a leading force in promoting the adoption and implementation of artificial intelligence in the healthcare sector. We look forward to collaborating with Huiyi Huiying to leverage Intel’s unique end-to-end AI technology advantages in addressing major challenges in the healthcare industry, accelerating its transformation, and safeguarding life and health.”

Beijing Core Dynamics Investment Fund (Limited Partnership) is a specialized investment institution jointly established by the National Integrated Circuit Industry Investment Fund, BOE Technology Group, and Yizhuang Emerging Industry Investment. Wang Jiaheng, Managing Director of Core Dynamics Investment, stated, “In the field of artificial intelligence, Core Dynamics Investment focuses on leading enterprises with broad industry application prospects and increasingly mature commercial implementation. Huiyi Huiying boasts a multidisciplinary team with deep insights into the healthcare industry, a clear development strategy, consistently leading R&D capabilities, and strong market expansion prowess. Its core value to customers in this sector has been widely recognized, achieving successful deployment of AI technology in this field. Through this collaboration between Core Dynamics Investment and Huiyi Huiying, we strive to jointly promote the rapid and in-depth development of artificial intelligence in China’s healthcare industry.”

Huiyi Huiying has garnered widespread attention within the industry since its inception. The company has assembled a team of world-class deep learning scientists and, under the guidance of Dr. Lei Xing, Tenured Professor and Director of the Medical Physics Center at Stanford University, has successively recruited dozens of medical and engineering experts. R&D personnel account for 60% of its workforce.

Huayi Huiying's Financing History

Huiyi Huiying, established in 2015, is a national-level high-tech enterprise specializing in artificial intelligence for medical imaging, dedicated to the application of computer vision and deep learning technologies. Headquartered in Beijing, the company has branches in Silicon Valley (USA), Hong Kong, Suzhou, and Guangzhou. It maintains industry-leading capabilities in both technological product development and commercial implementation, offering a diverse portfolio of products spanning from research to clinical practice. The company has achieved full-process AI coverage for individual diseases, encompassing the entire disease lifecycle from intelligent screening and decision support to prognosis prediction. It is also the only high-tech company in the industry built upon multi-modal, full-chain medical imaging data.

Intel Capital makes equity investments in innovative startups worldwide. Its investment portfolio spans a broad range of sectors, including artificial intelligence, autonomous driving, workload accelerators, 5G, virtual reality, and other disruptive technologies. Since 1991, Intel Capital has invested in 1,530 companies globally, with total investments exceeding $12.3 billion. During this period, more than 660 of its portfolio companies have gone public or been acquired by other firms.

Beijing Xin Dongneng Investment Fund (Limited Partnership) was established in 2015 by BOE Technology Group, the National Integrated Circuit Industry Investment Fund, Yizhuang Emerging Industrial Investment, and industry leaders. Headquartered in Yizhuang, Beijing, the fund has sub-centers in key integrated circuit innovation hubs such as Zhongguancun in Beijing and Silicon Valley in the United States. With an initial scale of RMB 4 billion, Xin Dongneng Fund primarily invests in enterprises engaged in integrated circuit design, equipment, and materials within the fields of display and human-computer interaction, the Internet of Things (IoT), and artificial intelligence.