Synyi, a China-based medical data processing technology developer backed by state-owned IT product supplier China Electronics Corporation, has secured RMB100m ($15.8m) in series B funding, China Money Network reported yesterday.
Venture capital firm GGV Capital led the round, which included VC fund ZhenFund and Sequoia Capital China, an affiliate of VC firm Sequoia Capital.
Founded in 2016, Synyi has developed a software platform that uses natural language processing (NLP) tools including lexical, semantic and syntax analysis to extract data from medical texts to be used in smart medical systems.
The series B capital will support further development of Synyi’s NLP platform as well as its machine learning and data governance technology.
China Electronics Health Fund, a vehicle launched by China Electronics’ CEC Data subsidiary, joined Sequoia for Synyi’s $8m series A round in March 2017.
The company had raised an eight-digit renminbi sum from healthcare provider Shulan Health, ZhenFund and private equity firm ChinaRock Capital Management the year before.