China-based internet conglomerate Tencent has led a RMB100m ($15m) series A+ round for US-based automated medical imaging service provider VoxelCloud.
The round also featured venture capital firm Sequoia Capital and wealth management firm United Capital, the investors that funded VoxelCloud’s $8m series A round in May 2017.
Founded in early 2016, VoxelCloud uses artificial intelligence (AI) and cloud computing technology to analyse medical imaging and other clinical data in order to help doctors diagnose diseases.
The company also makes its services available for incorporation into third-party developed medical devices. Its products focus on lung cancer diagnosis, liver lesion analysis, ophthalmology exams and coronary CT analysis and are used by more than 50 hospitals.
Phil Mu of Tencent said in a statement: “We have long believed the potential of AI in medicine. We are pleased to corporate with innovative startups like VoxelCloud to drive the next wave of AI in medicine.”
VoxelCloud will use the funding to expand its offering beyond hospitals to other clinical areas, and to support medical AI technology research. It had previously raised $5.5m in a September 2016 seed round, according to China Money Network, and its existing investors include NewMargin Ventures.