Synyi AI, a China-based medical software developer backed by corporates Tencent, China Electronics Corporation, Sinopharm and Sunshine Insurance, has raised RMB500m ($77.2m) in series E funding, DealStreetAsia reported on Friday.
The round was led by venture capital group IDG Capital, which was joined by Longmen Investments and Sharewin Investment.
Founded in 2016, Synyi supplies artificial intelligence-equipped software used by healthcare providers and clinical researchers to improve the efficiency of their operations. It has served more than 150 hospitals in China.
Zhang Shaodian, chief executive of Synyi, said it aims to strengthen its market position in the next three to five years and will invest in research and development for integrated solutions in smart hospitals as well as intelligent healthcare and disease control centres.
The company has raised approximately $192m in total, having received $61m in a December 2020 series D round was led by investment bank China International Capital Corporation’s CICC Alpha subsisidary and backed by internet group Tencent and insurance group Sunshine Insurance.
Tencent had led a $36.3m series C round for Synyi in mid-2019 that included Sinopharm Capital, a subsidiary of pharmaceutical firm Sinopharm.
Synyi had collected over $30.3m across a $15.8m series B and a subsequent series B-plus round in 2018, from investors including Sequoia Capital China, GGV Capital, ZhenFund and Xianghe Capital.
The company had also raised $8m of series A funding in 2017 from Sequoia China and China Electronics Health Fund, a vehicle formed by telecommunications equipment provider China Electronics Corporation’s CEC Data affiliate.