Rainbow Medical, an Israel-based incubator that specialises in medical devices startups, secured $25m yesterday from investors including insurance company Ping An and telecommunications company ZTE.
A range of unnamed China-based venture capital funds also participated, as did investment and financial management firm YongJin.
Healthcare company Abbott and medical device company Medtronic contributed to a $50m fund raised by Rainbow in 2012. The incubator received $5m in funding from cardiac device maker Sorin and $10m from electronics conglomerate Sony in 2013.
Rainbow has also opened an office in China to promote strategic partnerships with the local healthcare industry. It will use the funding to seed new startups based on intellectual property its owns, and to support the growth of its existing portfolio companies.