Chinese artificial intelligence (AI) medical imaging firm Yizhun Intelligent has completed its Series B round of financing, bagging nearly RMB 100 million (USD 14.1 million) led by Wondfo Biotech Industry Fund, local media outlet 36Kr reported on Thursday.
Existing investors Hina Group and Qingsong Fund have also poured money in this round, with Shanghai Xiaomiao Langcheng Investment Management participating as a new investor.
The new funds will be used for product development of AI-based products and expansion of the current product line, said the firm. The recent round comes after the company scored an undisclosed investment worth “tens of millions of yuan” in its Series A+ round from Qingsong Fund in April 2019.
Founded in 2017, Beijing-based Yizhun Intelligent uses AI technologies to assist diagnosis via medical scans, and has launched intelligent detection systems for lung diseases and breast cancer. The company’s products have been deployed in over 400 hospitals across China, according to the firm.
36Kr is KrASIA’s parent company.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.