Shukun Technology, the China-based medical diagnostics technology developer backed by mobile software producer ThunderSoft, has collected RMB700m ($108m) of funding backed by quantitative trading firm Jane Street’s Asia franchise.
Investment bank Goldman Sachs and investment firm Primavera Capital Group co-led the round, which was also backed by Sequoia Capital China, Marathon Venture Partners, Sage Partners and WT Asset Management.
Shukun develops medical imaging systems that utilise artificial intelligence technology to diagnose cardiovascular, cerebrovascular and acute stroke diseases. Its technology has also been used in the CT scan-based diagnosis of covid-19.
The company’s products are used by more than 1,000 hospitals across China.
The funding will support research and development activities for Shukun’s AI platform and accelerate the commercialisation of its products in the country.
The business has raised approximately $274m since it was founded in 2017. Shukun pulled in $90.3m of funding in a round led by Sequoia Capital China in December 2020.
Qiming Venture Partners led a $29.2m round for the business in August 2020 that included ThunderSoft, Everest Capital and SPD Silicon Valley Bank.
Shukun raised $28.3m in a series B1 round in June 2020 that was led by financial services firm BOC International and backed by China Construction Bank’s CCB International Healthcare Fund, Huagai Capital and China Creation Ventures.
The company previously secured $15m in its series A round in 2018, which was co-led by Huagai Capital and Morningside Venture Capital. It had received $3m from Marathon Venture Partners the year before.
Shukun’s other existing investors include reinsurance firm China Re Group, 5Y Capital and Zhongjin Pucheng Investment.