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Medical Data Startup Synyi Bags $77 Million as Hospitals Urged to Go Digital

By Ding Yi / Jul 12, 2021 07:17 PM / Business & Tech

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.

Related: Medical Data Firm LinkDoc Scrubs U.S. IPO as China Crackdown Continues

Contact reporter Ding Yi (yiding@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)


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