Da Te Bao Valued at $200 Million; Xing Xiang Yuan Secures Over ¥100 Million Series A and Files for IPO
VCBeat Investment and Financing News Reports,6Month13from the date to the date of publication of this article, the domestic and international internet healthcare sectors have collectively raised approximately4.36hundred million U.S. dollars, with the total financing for domestic projects amounting to approximately 30 million U.S. dollars, equivalent to about 200 million RMB.
According to VCBeat (WeChat ID: vcbeat), multiple major financing events occurred in both domestic and international digital health sectors during this period. This issue is the China edition of the Monthly Financing Report, in which the editor will systematically review all funded projects in China for your careful perusal.
List of Invested Projects in China During This Period
Without further ado, let’s first see who has claimed the title of the most popular investment project in China. That’s right—it is Da Te Bao, which will drive commercial insurance to participate at the source in individual medical “payment.”
·Da Te Bao – Promoting the Participation of Commercial Insurance in Personal Medical "Payment" from the Source
Da Te Bao is China’s first insurance service platform to hold a national online insurance brokerage license. Established in July 2014, it focuses on personal health insurance and health services.Currently, Da Te Bao has launched dozens of products, including critical illness insurance, medical insurance, and accident insurance.。Da Te Bao boasts over 5 million high-quality health insurance users.2016In the first half of the year, against the backdrop of a widespread decline in premiums across insurance companies, Da Te Bao’s premiums continued to grow steadily.and with this year5Achieved a 500% explosive growth month-over-month.
In July 2016, Da Te Bao announced that it had secured tens of millions of U.S. dollars in Series B+ financing, with China Development Capital and Fosun Group as the investors.The new round of financing will be primarily used to actively build and continuously improve Dataibao’s medical security ecosystem, further driving commercial insurance to participate at the source in individual healthcare “payment.”Da Te Bao willBreaking with tradition in the internet insurance sector, we have launched three core systems: a health insurance product platform, a personal health management platform, and a medical services platform. These provide individuals with comprehensive, multi-dimensional health services that integrate disease screening and prevention, health management, medical care, and risk protection.
It is reported that Da Te Bao has established a new Health Management Division, which will lead the integration of cross-sector resources, including health management service organizations and medical healthcare institutions. Resources need to be utilized rationally. As the number of medical institutions continues to grow, a vast amount of data remains siloed within these entities, making the application of big data in the healthcare sector increasingly critical.
· Smart Medicine Box – Building a Precision Patient Medication Data Service Platform
Zhixiang Health Technology is a pharmaceutical technology services company. Its flagship product, “Smart Medicine Box,” focuses on building a system that integrates patient CRM with in-depth pharmaceutical care. By leveraging QR code scanning technology to connect pharmaceutical manufacturers, pharmacies/hospitals, and patients, it records detailed medication histories and provides dynamic, personalized pharmaceutical services, thereby enabling smart medication management for patients.
June 2016,On June 16, Smart Medicine Box announced that it had secured RMB 6 million in angel-round funding from Hongli Venture Capital. Liu Quan, Founder and CEO of the company, stated that the funds would be primarily used to accelerate the development of a big data-plus-service platform for patient medication management and to establish deep collaborations with pharmaceutical companies on patient management systems. This strategy aims to consolidate the company’s core capabilities and leading position in both consumer-facing personalized medication management and business-facing precision patient marketing.
Precision is essential in healthcare, and professionalism is paramount for physicians. Physician groups, composed of numerous specialized doctors, have recently emerged and garnered significant attention within the industry. Many are likely familiar with DXY and Apricot Forest; now, a physician co-creation group named Xingxiangyuan has secured substantial financing amounting to RMB 100 million—yes, that is RMB 100 million.
· Xingxiangyuan: A Physician Group Making It Easier for Doctors to Launch Startups
Xingxiangyuan is a physician co-creation group dedicated to serving as a professional assistant for physicians’ diversified medical practices and as a platform for multi-site practice. With Zhejiang Greentown Cardiovascular Hospital and other institutions as its operational bases, it promotes online-offline interaction and is affiliated with Hangzhou Xingxiangyuan Health Management Co., Ltd. Xingxiangyuan was founded in April 2015 by Professor Shen Farong, a renowned cardiovascular specialist in China.
In July 2015, Xingxiangyuan secured RMB 10 million in angel financing. On June 18, 2016, the Xingxiangyuan physician entrepreneurship platform announced in Hangzhou that it had completed over RMB 100 million in Series A financing, led by Hangzhou Jinjiang Group Co., Ltd.
It is reported that Xingxiangyuan has established a comprehensive health management system covering the entire lifecycle from infancy to old age, building the most extensive physician group. Indeed, people of all ages, from the elderly to children, are living in contentment. With aging becoming increasingly prevalent in modern society, the proportion of the elderly population is significant in countries around the world. Smart eldercare has become an indispensable and critical component of future healthcare.
· MaiMai Elderly Care – Building a Smart, Mid-to-High-End Platform for Senior Living
Maimai Elderly Care is a company dedicated to smart elderly care services. By leveraging intelligent wearable devices and mobile internet technologies, it has developed a smart elderly care management system that provides integrated hardware and software solutions for mid-to-high-end elderly care institutions. According to VCBeat, Maimai Elderly Care’s hardware and software products and core algorithms have secured more than 20 national technical patents in China, some of which have obtained EU CE and RoHS certifications.
On July 21, 2015, MaiMai Elderly Care secured tens of millions of RMB in angel-round funding from Tongdu Venture Capital. On June 30, 2016, the company raised RMB 30 million in Series A financing from China Merchants Group.
According to VCBeat (WeChat: vcbeat), MaiMai Elderly Care’s primary market objective for the next phase is to extend its products and services to 30 first-tier cities across China.、Second-tier cities, covering 100,000 people from mid-to-high-end institutions and communities.
Smart elderly care has improved the quality of life in later years for more seniors, earning a five-star rating for filial piety and a five-star rating for social benefit.
Shortly after Maimai Elderly Care secured investment, a medical imaging company named Ruida Imaging also completed its Pre-A financing round of RMB 10 million.
Ruida Imaging is a mobile healthcare internet company that leverages big data, cloud storage, and cloud computing technologies to enhance physicians’ diagnostic efficiency, provide patients with high-quality medical resources, and address the shortage of premium medical resources at the primary care level.
According to VCBeat (WeChat ID: vcbeat), the team behind Ruida Imaging was established and began operations in 2012, with its current product roadmap largely taking shape by 2014. To date, its hospital partners include several Grade A tertiary hospitals in Shanghai, Zhongda Hospital in Jiangsu Province, and the Heilongjiang Provincial Radiology Group (comprising Daxing’anling Hospital as well as secondary and primary care hospitals). It was not until March 2016 that the team formally engaged with investors.
In July 2016, Ruida Imaging completed its Pre-A financing round, raising RMB 10 million, with Zhonglu Capital and Kuai Chuangying as the investors. Prior to this round, Ruida Imaging primarily relied on profits from its existing operations to support the development of innovative business lines, achieving relatively stable growth through self-sustaining cash flow.
Founded in 2012, the company achieved stable growth over four years through self-sustaining revenue and successfully penetrated several Grade 3A hospitals in Shanghai. The business model of this project is indeed impressive. With the recent influx of capital, Ruida Imaging is poised to leverage this financial momentum to refine its offerings and drive continuous upward growth.
This concludes the domestic edition of this month’s financing report. Next, we invite you to tune in to VCBeat’s latest overseas weekly financing report, where we will cover major events such as Warren Buffett’s acquisition of an insurance giant and CRISPR Therapeutics’ completion of a $38 million Series B financing round, while analyzing the key drivers behind the successful funding of more high-quality projects.
For the latest and hottest financing news in the domestic and international internet healthcare sector, please continue to follow VCBeat.