AccuMedical has garnered more than 100 million yuan ($14 million) in a Series B round of financing led by Sequoia Capital China, while Kingsware has raised approximately 100 million yuan ($14 million) in its Series A round from Qiming Venture Partners, Junsan Capital, among others.
AccuMedical raises $14m led by Sequoia China
Chinese medtech company AccuMedical has garnered more than 100 million yuan ($14 million) in a Series B round of financing, according to a company statement on Monday. The round was led by Sequoia Capital China with participation from Huagai Capital.
The fresh round follows the completion of its undisclosed equity interest investment from healthcare-based investment firms BioTrack Capital and Proxima Ventures in August 2019. Haoyue Capital served as the financial advisor for the latest deal.
Beijing-based AccuMedical, which started operation in 2016, designs and makes neurovascular interventional medical devices.
“Neurovascular interventional therapy enables safe and efficient treatments for cerebrovascular diseases. We look forward to working with AccuMedical and other investors to facilitate the business development and develop better products and services,” said Sequoia Capital China’s managing director Yunxia Yang in the statement.
Qiming backs Kingsware
Zhuhai-headquartered robotic process automation (RPA) solution developer Kingsware has raised approximately 100 million yuan ($14 million) in its Series A round of funding led by Qiming Venture Partners, per a company statement.
Other investors who participated in the debut round are Junsan Capital, Huajin Capital, Taiya Dingfu Investment Management, Zhuhai Technology Venture Capital, Zhuhai Angel Fund and Zhuhai Talent Fund.
The proceeds will be used for building up its innovation programmes, sales networks, and RPA developer group.
Kingsware, a subsidiary of Shanghai-listed fintech service group Shenzhen Kingdom Sci-Tech, leverages AI technologies such as optical character recognition, natural language processing and automatic speech recognition to deliver RPA management softwares and platforms. It claims to have served over 200 clients from the financial services sectors.