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China tech moguls spur wave of philanthropy—have their efforts translated into impact? | China Venture Roundup Volume 39

Written by KrASIA Venture Roundup Published on     2 mins read

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China Venture Roundup Volume 39 covers China’s investment activity from May 31 to June 6, 2021.

Find out what moves China tech with us. We round up what you need to know about the local venture scene every Thursday morning at 8:00 a.m. (GMT +8), covering major investment stories, MNC partnerships, noteworthy startups, industries with the most investments for the week, and more.

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Going Public: IPOs 

On May 31, Xikang submitted its prospectus to the HKEX. Xikang is the first city-scale collaborative medical and health management platform in China.

Leveraging its proprietary cloud platform, Xikang provides SaaS tools for hospitals and clinics to adopt centralized digital infrastructure, which integrates the city’s healthcare resources and allows sharing of information among primary healthcare providers, pharmacies, and other healthcare operators. Utilizing the information housed on the platform, patients can seek remote consultations and prescriptions.

At present, Xikang has partnered with more than 1,815 hospitals across 25 cities, making it the largest domestic cloud-based hospital network platform.

Startups on our Watchlist

ChromX Health (精智未来)

Founded in 2021, ChromX Health develops smart breathalyzer devices for clinical diagnostics. With non-invasive testing, the company’s device provides rapid detection and early screening for a variety of medical conditions.

To facilitate more application scenarios in hospitals, senior centers, and personal homes, ChromX Health recently launched portable devices with smaller analyzers calibrated with high sensitivity and resolution. The company is currently working with top-notch hospitals in China and the United States to develop tests for cancer, infectious diseases, and chronic conditions.

KrASIA News Picks

Chinese tech moguls spur wave of philanthropy but endeavors fall flat

Philanthropy is not new in the tech world, many individuals have been keen to give back as they build their careers and financial means. Chinese tech moguls are no exception to such charitable efforts, with figures like Jack Ma of Alibaba, as well as Pony Ma and Charles Chen of Tencent, making high-profile headway. Despite their well-meaning ventures, the lack of change and persistent inequality for workers negate their philanthropy. How have the efforts China’s new donor class panned out?

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