Insurance provider Ping An Insurance has participated in a series B round of undisclosed size for China-based big data technology producer Sipai Wangluo, China Money Network reported today.
Ping An invested through its corporate venturing subsidiary Ping An Ventures and was joined by Eight Roads Ventures, the investment unit of financial services conglomerate Fidelity, and F-Prime Capital, the VC arm of Fidelity.
The round reportedly consisted of tens of millions of US dollars.
Founded in 2014, Sipai Wangluo aggregates data from hundreds of hospitals on cancer patients and uses big data technology to offer an insight to medical professionals and make treatments more efficient.
The company will use the cash to expand its team of healthcare professionals. It currently employs approximately 300 people.
Ping An Ventures, Eight Roads and F-Prime previously invested nearly $10m in January 2015.