China Digest: Qiming invests $30m in Huimei; AutoX to deploy robo-taxis in Shanghai

Qiming has invested $30m in Huimei Technology, a Chinese medical AI solutions player, while AutoX and Shanghai authorities have announced a partnership to pilot the real-world use case of the country’s driverless future.

Qiming invests $30m in Huimei Technology

Huimei Technology, a Chinese artificial intelligence (AI)-powered medical solutions provider, has raised $30 million in a Series C round of financing led by venture capital firm Qiming Venture Partners, according to an announcement.

Chinese pharmaceutical and medical device firm WuXi AppTec and Huimei Capital, the investment unit of Huimei Healthcare Group, also participated in this round.

Huimei Technology is a division of Huimei Healthcare Management Services, which was established in 2015 by Hillhouse Capital and US-based non-profit medical group Mayo Clinic.

Qiming Venture Partners in February was seeking to raise $250 million for its second US healthcare fund, according to its SEC filing.

In April last year, Qiming announced the close of its first US healthcare fund at $120 million, along with the $935 million US-dominated Fund VI and 2.1 billion Chinese yuan-dominated ($313.4 million) Fund V.

AutoX to launch 100 robo-taxis in Shanghai 

California and Hong Kong-based autonomous driving startup AutoX and Shanghai authorities have announced a partnership for a robo-taxi pilot, local media reported.

AutoX will deploy 100 autonomous vehicles in a pilot area of 150 sq km in Anting Town, which takes up nearly a third of Shanghai’s northwestern Jiading district.

AutoX was founded in 2016 in Silicon Valley by Xiao Jianxiong, a former Princeton University assistant professor. The company earlier partnered with NEVS — the Swedish holding company and electric vehicle manufacturer to deploy a robo-taxi pilot service in Europe by the end of 2020.

AutoX also plans to set up its regional headquarters in Jiading and expects the driverless taxi service to be available to residents as early as the end of this year.

The California and Hong Kong-based AV startup has been testing its vehicles in more than 10 locations worldwide, including San Jose in Silicon Valley and the Nanshan district of Shenzhen, located in southern Guangdong Province.

Meanwhile, Chinese ride-hailing giant Didi Chuxing also announced plans to launch a robo-taxi service in Shanghai where users will be able to hail driverless cars from the app. The ride-hailing company will deploy 30 different models of so-called level four autonomous vehicles in the Jiading District of Shanghai, CNBC reported.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.