China Digest: CMC, AlphaX invest $83m in Gaosi Education; Qiming backs Infervision

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Photo: REUTERS/Beawiharta

In two separate funding rounds in China, online-offline K-12 education firm Gaosi Education raised $83 million co-led by China Media Capital and AlphaX Partners, while local medical imaging technology startup Infervision received $18 million in its series B backed by Qiming Venture Partners.

CMC, AlphaX co-lead $83m round in Gaosi Education

China Media Capital (CMC), and AlphaX Partners have co-led an $83 million funding round in online-offline K-12 education firm Gaosi Education, the largest deal the company has ever closed.

Other investors who joined the round include China International Capital Co Ltd, Sinovation Ventures, Hina Group, and Loyal Valley Capital, reports said.

Founded in 2009, Gaosi offers online live streaming courses teaching Chinese, English, math, history, chemistry, and physics coupled with offline training centers for selected topics.

The Beijing-based company plans to use the proceeds by investing in big data and artificial intelligence seeing greater value in mining and using helpful information.

Gaosi also seeks to partner with education institutions in various cities in China.

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China: Qiming backs $18m series B in medical imaging startup Infervision

Chinese medical imaging technology startup Infervision has raised $18 million (RMB120 million) in a Series B round led by Qiming Venture Partners, participated in by Sequoia Capital China, and Genesis Capital, the China Money Network reported.

Founded in 2016, the Beijing-based startup uses artificial intelligence to create clinically valued products and promotes precision analysis in the medical field especially in assisted image diagnosis.

The company plans to use the fresh capital to boost commercialization and clinical trial of its products, including expanding its business abroad.

Last January, Infervision closed a $7 million series A round led by Sequoia Capital China. In 2016, Innoangel Fund and Powercloud Venture Capital funded a $2 million angel round in the healthtech firm.

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