Existing investors, Chinese healthcare-focused venture firm HighLight Capital and Wu Capital, also participated, the China Money Network reported. Wu Capital is the family office of Chinese real estate developer Longfor Properties Co Ltd’s founding family Wu Yajun.
Yuanxing Capital focuses on healthcare, artificial investments and consumer upgrade themes.
The Cui Yutao Health Management Center previously raised a $10 million series B funding round from HighLight Capital and Wu Capital in January 2016, and now plans to use the latest proceeds on improving its mobile app on pediatric care and enhance its offline clinic network.
Popular Chinese pediatrician Dr. Cui Yutao founded the startup in 2014. He is the director of the pediatric department at Beijing United Family Hospital, and has nearly seven million followers on Sina’s Weibo, China’s equivalent of Twitter. Cui previously worked at the Beijing Children’s Hospital, and Capital Medical University.
The startup is tapping on a huge opportunity, announcing recently that there is only 0.5 pediatrician per one thousand children in China. The nation has around 20 million newborns every year, with around 200 million of its population aged between 0 to 14.
In 2015, a similar startup Amcare Women’s & Children’s clinic was launched in Beijing with backings from Warburg Pincus and Lenovo Group Ltd. Yu Ying, a well-known doctor at Peking Union Medical College Hospital’s emergency department, became the firm’s chief executive.