China-based pathology technology developer Konfoong Biotech International has closed a series B round led by semiconductor and data technology provider Intel sized at up to RMB100m ($14.1m), DealStreetAsia reported yesterday.
The corporate led the round through its Intel Capital subsidiary, participating alongside Zhejiang Xinganxian Media Investment, a vehicle for media group Zhejiang Daily Press, in addition to venture capital firm Yingxinggu Capital, according to a company statement.
Also known as KFBIO, Konfoong Biotech provides medical devices that scan and process samples in order to derive information on cancer and related physical abnormalities, in particular cervical cancer.
Prior to the series B round, Konfoong Biotech had utilised Intel’s artificial intelligence technology to automate parts of the cancer screening process, and established an AI-equipped pathology laboratory with the corporate in 2018.
The company had previously raised an undisclosed amount of funding from investors including Cowin Capital, PKU Capital, QF Capital and Real Power Capital, according to DealStreetAsia.
Image courtesy of Konfoong Bioinformation Tech Co., Ltd.
