Intel Capital invests in Chinese medical imaging firm HuiyiHuiying

Photo: Tam Tri Hospital's website

Chinese medical imaging artificial intelligence company HuiyiHuiying (HY) has announced the closing of an undisclosed amount of strategic investment led by Intel Capital.

The investment round was also participated by Beijing Singularity Power Investment Fund (SPC), according to an official release.

Founded in 2015, HuiyiHuiying collaborates with more than 800 medical institutions in China in clinical applications and scientific research projects.

The company, which plans to expand to overseas markets including the United States, Japan, Southeast Asia, India and Europe, says it will use the funding proceeds to support its business development, product innovation and talent recruitment initiatives.

The investment in HuiyiHuiying, which counts CDH, Delta Capital, Bluerun Ventures and Yield Capital as existing investors, marks the first investments by both Intel Capital and SPC in the medical AI sector in China.

For Intel, however, the investment is an extension of a previous collaboration with HuiyiHuiying, through which the two companies look to develop an AI full-cycle breast health management cloud platform to support breast cancer screening and diagnosis

“We believe data combined with smart technology applications can help address major challenges within the medical industry and we look forward to working with HuiyiHuiying to find AI-led solutions that contribute to improved health outcomes,” said Intel Capital International  Vice President and Managing Director Anthony Lin.

HuiyiHuiying said, it will use the investment from Intel Capital in particular to help enhance its R&D capabilities, broaden its market reach and further grow its business as a leading medical AI solution provider.

Intel has been aggressively investing in Chinese companies for the last couple of years. Last year, it backed a Series A+ round in Chinese computer chips maker Horizon Robotics, which was followed by investments in three other tech startups Reconova, Alauda, and Espressif Systems.

Most recently, Intel led a Series B funding round in Chinese AI company, ICE TECH Science & Technology.

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