Linkdoc, a Beijing-based medtech solutions provider focused on oncology, has recently closed a D+ round, bagging RMB 700 million (USD 102.39 million) from CICC Capital, CBC Capital, Youshan Capital, iFOF (a Tianjin government-backed fund), and undisclosed existing backers, the company announced via WeChat on Monday.
The healthcare unicorn was founded in 2014 by Zhang Tianze, a China Europe International Business School MBA grad, with a mission of digitalizing China’s medical sector. Its products include an AI-assistant diagnosis and management system, patient services, and medical records datasets. Its services are used by nearly 500 hospitals and 30,000 doctors across the country, with clients also including government departments, pharmaceutical companies, and insurance firms.
The fresh capital will be used to research and development new tumor drugs, establishment of a comprehensive patient service system, development of an oncology data platform, and insurance payment solutions, according to the announcement.
Prior to this round, Linkdoc closed an RMB 1 billion (USD 146.29 million) Series D round in July 2018, attracting capital from state-owned China Investment Corporation. It also counts Ally Bridge Group and US New Enterprise Associates as its investors.