China-based healthcare management platform Kang Sheng Health Management has closed a $100m series C round co-led by energy utility CLP, China Money Network reported on Sunday, citing an announcement on WeChat.
Investment banking firm China International Capital Corporation co-led the round, which included Samsung Ventures, a subsidiary of electronics producer Samsung, as well as pharmaceutical company Tasly, insurer Ping An, medical analytics provider Health 100, IDG Capital and LB Investment.
Kang Sheng’s mobile app, Zhangshang Tangyi, enables patients suffering from diabetes to record their personal health data and receive medical advice from its network of hospital partners.
The company also provides software equipped with big data and artificial intelligence technology to help hospitals manage and treat patients with chronic diseases, as well as an e-commerce trading platform for medical equipment and medicine.
Proceeds from the series C round will be used to add more care provider partners to the platform, and to further develop Kang Sheng’s technology.
Kang Sheng raised $15m in an October 2017 series B1 round that included Ping An unit Ping An Ventures, Co-Stone Capital, IDG Capital and Matrix Partners, according to 36Kr.