Chunyu International Secures Over RMB 50 Million in Series A and A+ Funding, Highlighting Strong Investor Confidence in Cross-border Healthcare
Recently, VCBeat exclusively learned that Chunyu International has successfully completedSeries A and Series A+ financing rounds. Shanxing Capital and Huayao Capital invested successively, with the total financing amount exceeding RMB 50 million.
According to VCBeat, Chunyu International has completed three rounds of financing in the past year, with a very rapid fundraising process, becoming the fastest-growing company in the industry.
From the perspective of current market demand in China, the primary reasons for Chinese citizens seeking medical treatment abroad are access to the most advanced pharmaceuticals globally, physicians’ superior clinical expertise, higher quality of service, standardized treatment protocols, and more cutting-edge medical equipment. According to a set of data from Citigroup’s research division,China's Cancer Mortality Rate Is0.58, higher than the global average of 0.56, with an even larger gap compared to the United States, Europe, and Japan.
Pharmaceutical Companies in Various Countries in Drug R&Das a percentage of their sales, U.S. pharmaceutical companies have the highest R&D expenditure ratio, at approximately76.1%, while China has only 0.3%. This has led an increasing number of Chinese people to view it as their last lifeline, wagering on a war they cannot afford to lose. Consequently, it is only natural that overseas medical services have become favored by capital investors.
Currently, there is a large number of domestic overseas medical service providers. In addition to internet platforms such as Chunyu International, they mainly fall into two categories. The first category comprises traditional overseas medical intermediaries represented by high-end clubs and travel agencies. These institutions primarily target high-net-worth individuals from the post-1950s and post-1960s generations with strong purchasing power. They charge opaque intermediary fees that often range from hundreds of thousands to even millions of RMB, resulting in a high consumption threshold. The second category consists of representative offices established by foreign hospitals in China. The medical services provided by these single-hospital representative offices are relatively limited, offering fewer choices for patients.
According to VCBeat (WeChat official account: vcbeat), Chunyu International is China’s first internet-based platform for overseas medical services, leveraging the internet to provide users with innovative, customized solutions for seeking medical treatment abroad.
Chunyu International efficiently connects the healthcare needs of patients in China with high-quality global medical resources through the internet. Whether facilitating international referrals or enabling remote consultations between domestic patients and overseas specialists, Chunyu International helps clients identify optimal overseas healthcare solutions, including critical care treatment, assisted reproduction, overseas health screenings, and pharmaceutical information services. The company is committed to providing tailored solutions that maximize cost-effectiveness, assisting Chinese patients in accessing advanced care for conditions such as heart disease, cancer, and cardiovascular and cerebrovascular disorders.Professional second medical opinions or corresponding medication services for 50 diseases.
Chunyu International is also screening high-quality medical resources globally, and the platform currently has nearly50 leading overseas medical institutions, all of which have passed rigorous local qualification reviews, gained recognition from top industry associations, and boast either a long-standing heritage or support from cutting-edge technologies.
As one of the strategic shareholders of Chunyu International, Chunyu Doctor has provided strong support in areas such as data, customer acquisition, and professional expertise. This support has enabled Chunyu International to achieve rapid growth within just over a year since its establishment, becoming an independent entity capable of securing financing and attracting significant interest from numerous investors.
The Investors in This RoundOne of the founding entities is Shanxing Capital, established in2015YearIn December, Shanxing was co-founded by Yang Haoyong, founder of Ganji.com and Guazi Used Cars, and Xu Shi, former General Manager of NetEase’s Mobile Internet Division. Established by first-tier internet entrepreneurs, Shanxing has leveraged its founders’ experience to help entrepreneurs anticipate industry trends and better manage their companies’ growth pace, serving as a mentorship-oriented fund that accompanies startups throughout their development. The fund primarily invests in Pre-A to Series A rounds, focusing on sectors such as technological innovation, pan-entertainment and lifestyle, and transactional platforms.
Huayao Capital is one of the most dynamic and leading professional equity investment fund management firms in China, with assets under management exceeding RMB 10 billion. Several of its venture capital funds have received participation from national government guidance funds.
It is reported that, given Chunyu International’s current growth trajectory, the company is projected to achieve revenue breakeven by the end of this year. This indicates that, buoyed by the favorable overall environment in the overseas healthcare market, Chunyu International, with its innovative platform model, is rapidly advancing toward becoming an industry unicorn. In this regard, VCBeat (WeChat Official Account:VCBeat) will continue to monitor.
Note: Some data sources in this article are from:
《Minsheng Securities - In-Depth Report on the Cross-Border Healthcare Industry》
“YiVBInsight“Special Research Report on China’s Overseas Medical Tourism Market 2016”
《CITI Research - China Healthcare Handbook 2016》