Chinese 'corona-tech' startups raise big funding

Chinese 'corona-tech' startups raise big funding

The coronarivus reproduced as a physical model. Photo: papazachariasa/pixabay

Funding in private companies in China from January through June was concentrated in medicine and health care, as well as “corona-tech” companies that have developed online solutions in areas such as real estate and education amid the pandemic, according to Chinese startup news site 36Kr, which is in partnership with Nikkei. Investment in artificial intelligence and semiconductors also increased due to the U.S. conflict with China in the high-tech sector.

Of the 50 companies that raised the most funding, medical companies accounted for the largest number, 10, twice as many as a year earlier. Businesses that are expected to expand in the COVID-19 crisis, such as MGI Tech, a producer of genetic analysis equipment, garnered much attention.

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