China-based paediatric care provider Beijing Cuiyutao Children’s Healthcare Center has received $10m from a subsidiary of real estate developer Longfor Properties and venture capital firm HighLight Capital, China Money Network reported on Friday.
The centre was founded by Yui Cutao, chair of paediatrics at Beijing United Famly Hospital, in 2014. It received an undisclosed amount of series A funding from HighLight, which focuses on healthcare investments, the same year.
The series B proceeds will be used to develop Beijing Cuiyutao’s mobile app, and to open additional brick-and-mortar medical centres.
The startup aims to take advantage of the Chinese government’s recent decision to extend its one-child policy, as well as a local market where paediatricians are not widespread.