Big Data company Oushu has pocketed 200 million yuan ($30 million) in a Series B+ round of financing, while Qiming Venture Partners has led a 100 million yuan ($15 million) Series B round for digital healthcare services specialist Zuoshouyisheng.
Sequoia-backed Oushu nets $30m
Big Data firm Oushu Inc. on Wednesday announced the completion of a 200 million yuan ($30 million) Series B+ round.
The round was backed by return investors Sequoia Capital China and Redpoint China Ventures. Scale Partners facilitated the transaction.
Redpoint China Ventures first invested in Oushu in April 2017. It joined Sequoia China later the same year to inject 50 million yuan ($7.7 million) in the startup’s Series A round.
Founded by Dr Lei Chang in 2016, Oushu uses new generation technologies — machine learning, cloud computing, computer vision, and natural language processing — to develop high-performing databases and AI products for enterprises.
The Beijing-based company caters to sectors including finance, telecom, government administration, and energy. Its clients include the State Grid Corporation of China, China Mobile, China Construction Bank, and VMware.
Qiming leads $15m funding in Zuoshouyisheng
AI-driven digital healthcare services specialist Zuoshouyisheng on Wednesday announced that it has secured 100 million yuan ($15 million) in a Series B round led by Qiming Venture Partners.
The round was joined by Chinese consumer electronics giant Haier Group’s unit Haier Capital and state-backed Hunan Hi-Tech Investment Group.
Proceeds from the latest funding round will be used to augment its research and development initiatives.
Set up in 2015, Zuoshouyisheng focuses on the application of AI solutions in the healthcare sector. It claims to have served over 500 industry players, including hospitals, insurance groups, pharmaceutical firms and pharmacy chains.
Its early-stage investors include 5Y Capital, Volcanics Venture, Chenshan Capital and Will Hunting Capital.