Shanghai Kingstar Winning Software Science and Technology Co., Ltd, a subsidiary of digital medical firm Winning Health, has raised 150 million yuan ($22.2 million) in an equity financing round from JD Health, the online healthcare unit of e-commerce giant JD.com.
According to an announcement on Shenzhen Stock Exchange, JD Health will hold as much as 7.71 per cent stake in Kingstar. Apart from JD Health, Chinese global drug maker WuXi AppTec will also buy the same amount of stake in Kingstar.
The investment comes nearly a month after JD.com made headlines for reportedly looking to list JD Health.
Kingstar, established in 2012, offers intelligent medical software to the healthcare industry. Its services include medical insurance fund monitor, big data analysis, and online payment solution.
The company generated 17.25 million yuan ($2.6 million) in annual revenue as of December, 2019.
Kingstar will use the fresh funding for its healthcare products and applications, besides commercial insurance platform.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from October 12-13, 2020.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Verticals |
|---|---|---|---|---|---|---|
| Zhaoke Ophthalmology Pharmaceutical (ZKO) | Hong Kong | 145 million | B | Hillhouse Capital, TPG Asia | Loyal Valley Capital, OrbiMed Group, Aier Eye Hospital | HealthTech |
| Huohua Siwei | Beijing | 100 million | E2 | Tencent Investment | The Carlyle Group, Yuanfudao | EdTech |
| EdiGene | Beijing | 67 million | B | 3H Health | Sequoia Capital China, Kunlun Fund, Alwin Capital | Biotech |
| Bamboocloud | Shenzhen | 44 million | C | - | Sequoia Capital China, Kunlun Fund | Cloud Computing |
| Serve Accurate Faithful Evaluatin | Beijing | 30 million | B | - | Legend Capital | HealthTech |
| Naxions | Beijing | 30 million | - | Sequoia Capital China | MatrixPartners China, Morningside Venture Capital, Vocanics Ventures, CCV, Frees Fund, Zhichun Capital | HealthTech |
| ImmuneOnco | Shanghai | 25 million | B | Lilly Asia Ventures | LYFE Capital, Milestone Asset Management | HealthTech |
| Teemsun | Beijing | 22 million | - | - | Zgcco Innovatin Fund's Nanyangzi Fund | N/A |
| SequoiaDB | Guangzhou | * 14 million | D | CICC Capital | Oriza Prior, Yuexiu Industrial Fund | Big Data |
| Cbeureka | Shenzhen | 14 million | A | CR Capital | Future Capital, Scheme Capital | N/A |
| Addnewer Technology | Beijing | 14 million | B | Yongyou Industrial Investment | MAD.Works | Sales & Marketing Software |
| Shoplazza | Shenzhen | 10 million | B | - | Sky9 Capital, Sequoia Capital China, Qianhai FOF, Pantheon Asset | Saas |
| Wuxi Masun Environmental Energy Technology | Wuxi | * 1.4 million | Strategic Investment | - | Addor Capital | CleanTech |
| Morooy | Shenzhen | * 1.4 million | A | Chanyelian Capital | Sequoia Capital China's seed fund | Sales & Marketing Software |
| Unionstrong Technology | Beijing | * 1.4 million | B | Sunland Fund | Chiron Ventures, Qingji Venture Partners | HealthTech |
| Technology Deepvision | Hangzhou | 7.4 million | Pre-A | Vertex Ventures China | Qualcomm Ventures | AI and Machine Learning |
| Talon Esports | Hong Kong | 2 million | Seed | Hana Ventures | Widus Strategic Investments, New Wave Esports Corporation, Sprout Investments, Gavekal Family, EMC Capital, Animoca Brands, HZL Capital, Felix LaHaye | eSports |
| Sengoic | Shanghai | - | A | Hongtai Aplus | - | N/A |
| Menxlab | Shenzhen | - | A | China Growth Capital | SIG, Gaorong Capital | Fitness & Wellness |
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopted the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example.
