Internet group Baidu led a $100m series C-plus round for China-based healthcare access software provider Weimai yesterday through growth-stage investment arm Baidu Capital, DealStreetAsia reported, citing a company statement.
Venture capital group IDG Capital, VC fund Vision Plus Capital, healthcare investment firm Cenova Capital and VC firms Matrix Partners China and Source Code Capital also took part in the round.
Weimai has built a software platform that utilises big data and artificial intelligence tools as well as telemedicine and disease management technology to help hospitals provide healthcare for patients online.
Patients can access services through Weimai using a mobile app or the WeChat messaging platform, and can book appointments, undertake video consultations with physicians, view medical reports and pay medical bills.
The company received an undisclosed amount of seed funding from Source Code Capital and angel investors including Eddie Wu, and Source Code Capital came back for a series A round three years later.
Cenova Ventures led Weimai’s $30m series B round in September 2018, investing alongside Source Code Capital, Vision Plus Capital and Matrix Partners China. All the series B participants returned for a $100m series C round in June 2019 led by IDG Capital.
