China Digest: IDG Capital backs Weimai; Leju Robotics raises Series B

Shanghai, China. Photo by Ihor Dvoretskyi on Unsplash

IDG Capital has led a $100-million round in online healthcare platform Weimai while Aplus Capital and an investment vehicle of media firm Shenzhen Press Group have co-led a $36.21-million Series B round in Tencent-backed humanoid robot company Leju Robotics.

IDG Capital leads $100m round in Weimai 

Chinese online healthcare platform Weimai has raised $100 million in its latest funding round led by venture capital firm IDG Capital, China Money Network reported.

Existing investors, including Matrix Partners China, Vision Plus Capital, Source Code Capital, and Cenova Ventures, also participated in this round.

The Chinese healthcare solutions provider had earlier raised $30 million in a Series B round in September last year.

Proceeds from the latest funding round will be used to expand Weimai’s network of alliances with hospitals, clinics and service providers, and to invest in technology.

Founded in 2013, Weimai’s platform offers appointment, distribution, maternal and child disease management, grading diagnosis and treatment as well as remote diagnosis, and medical records management services.

In 2018, the revenue of China’s internet healthcare market totalled 19.05 billion yuan ($2.75 billion), according to iResearch Global.

Tencent-backed Leju Robotics raises $36.21m Series B 

Chinese high-end intelligent humanoid robot company Leju Robotics has raised 250 million yuan ($36.21 million) in a Series B round led by Aplus Capital and an investment vehicle of media firm Shenzhen Press Group, China Money Network reported.

Existing investor and Chinese tech giant Tencent also participated in the round.

Founded in 2014 by renowned entrepreneur Yu Minhong and senior investment banker Sheng Xitai, Aplus Capital is an early stage investment fund based in China. It invests in information technology, e-commerce and fintech sectors in the country.