Shukun Beijing Network Technology, a China-based medical diagnostics technology developer backed by mobile software provider ThunderSoft, has filed for an initial public offering on the Hong Kong Stock Exchange.
Founded in 2017, Shukun is developing an artificial intelligence (AI)-powered health monitoring system to detect and treat diseases including heart disease, stroke and cancer.
Investment banking firm Goldman Sachs and investment firm Primavera Capital Group co-led a $108m round for Shukun last month featuring quantitative trading firm Jane Street’s Asia branch, Sequoia Capital China, Marathon Venture Partners, Sage Partners and WT Asset Management, taking its overall funding to roughly $274m.
The company closed a $90.3m round led by Sequoia Capital China, in December 2020, which came in the wake of a $29.2m round four months before led by Qiming Venture Partners and backed by ThunderSoft, Everest Capital and SPD Silicon Valley Bank.
Financial services group BOC International had led a $28.3m series B1 round for Shukun in June 2020 that included China Construction Bank’s CCB International Healthcare Fund, Huagai Capital and China Creation Ventures.
Huagai Capital and 5Y Capital (then Morningside Venture Capital) co-led the company’s $15m series A round in 2018, after it had collected $3m from Marathon Venture Partners the previous year. Reinsurance firm China Re Group and Zhongjin Pucheng Investment are also among its shareholders.
