China-based clinical research software provider Taimei Technology has disclosed RMB1.5bn ($212m) in funding including a $132m series E-plus round led by internet group Tencent, DealStreetAsia reported on Friday citing an announcement on WeChat.
The total also includes a series E round led by hedge fund manager Tiger Global Management, some details of which were revealed in January this year, and the rounds also featured SoftBank China Venture Capital (SBCVC), a corporate venturing vehicle for telecommunications firm SoftBank.
Morningside Venture Capital, Cowin Venture, SAIF Partners, Zheshang Venture Capital and Ivy Capital also contributed to the funding.
Taimei produces cloud software and other technology that helps life sciences companies conduct clinical research and collect and manage information concerning adverse effects of drugs in the development stage.
The company’s offering also facilitates collaboration between multiple stakeholders in the drug development stage including clinical research organisations, drug developers, regulators and patients.
Although precise information concerning its early funding is not available, Taimei raised approximately $14m in a January 2017 series C round including Cowin Capital, Morningside Ventures, Matrix Partners China and Genesis Capital according to DealStreetAsia.
SBCVC, Matrix Partners China, Cowin Capital, SAIF Partners China and Morningside Ventures subsequently provided $47.7m in series D funding for the company in April 2018. Its earlier investors also include Northern Light Venture Capital.
