SB China Capital (SBCVC)-backed healthtech firm Shanghai Kyee Technology Co., Ltd has raised 430 million yuan ($64 million) in its Series D round led by Chinese tech giant Tencent, per an announcement.
The round also saw the participation Kyee’s existing investors namely DYEE Capital, Royal Sea Capital, Beijing Meihe Zhongbang Technology and Jiaxing Guangrun. New investor Longmen Capital also joined the round.
Tencent and Kyee will help to transform the industry by revamping the segments toward medical cloud and smart medical care.
Kyee, established in 2014 by founder Zhi Li, provides smart healthcare solutions driven by new generation technologies such as cloud computing and software-as-a-service (SaaS). It offers a slew of services ranging from hospital resource planning, and medical cloud, among others.
It claims to have served over 13,000 medical institutions such as Shenzhen People’s Hospital, The First People’s Hospital of Guangyuan, Penglai People’s Hospital, among others.
SB China Capital is Kyee’s largest shareholder and owns 39.64 per cent stake in it. Meanwhile, CDH Investments holds a total of 12.36 per cent stake.
SB China Capital along with CDH, DYEE, Sensegain Asset Management and Echo Capital had earlier invested 97 million yuan ($14 million) in Kyee’s Series C+ round in 2016. Prior to that, in 2015, SB China along with Sensegain and Highlight Capital had infused 221 million yuan ($33 million) in its Series C round.