Shanghai-based medical data firm Synyi AI has raised 500 million yuan ($77 million) in its series E funding round as the Chinese government encourages hospitals to embrace digitalization.
Led by IDG Capital, the round was joined by Longmen Investment and Sharewin Investment, the company said in a statement on Friday.
Established in 2016, Synyi AI mainly develops artificial intelligence and big-data powered digital solutions to help public hospitals, health care institutions and disease control centers become more efficient.
The Tencent-backed company plans to beef up investment in smart hospitals in the next three to five years, said CEO Zhang Shaodian.
The State Council, China’s cabinet, released a document (link in Chinese) last month which urged the high-quality development of public hospitals with a focus on smart hospitals that combine information technology with medical services. The document’s issuance came as demand for online medical consultations surged during the Covid-19 pandemic.
Synyi AI said its revenue quadrupled year-on-year in 2020, without providing specific figures.
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