China Investment Corporation-backed LinkDoc Technology (Beijing) Company Limited, a provider of medical data solutions and oncology big data services, has raised 700 million yuan ($102 million) in a Series D+ round from undisclosed existing investors, LinkDoc announced on WeChat on Monday.
The fresh round also witnessed participation from new investors namely CICC Capital, Youshan Capital and iFOF, a fund of funds of the private equity firm CBC Capital. With the latest round of funding, LinkDoc will continue to spruce up its big data service platforms and tools, the company said.
LinkDoc had completed a 1 billion yuan ($143 million) Series D round exclusively from state-owned China Investment Corporation in July 2018.
Since its inception in 2014, in Beijing, LinkDoc has engaged in cloud-based medical information systems and software. The developer offers a repository of big data for the healthcare industry such as clinical trial, AI diagnosis and management. Its services are used in hospitals, clinics, pharmaceutical companies and government administrations, which include Chinese Medical Doctor Association, and China Society of Clinical Oncology, among others.
“We expect to build sustainable partnerships with industries to expedite the digitalisation of the Chinese healthcare sector, facilitate commercialisation for severe diseases, and develop AI- and big data-oriented healthcare infrastructure,” it said in the statement.
In 2016, LinkDoc had closed $10 million in a Series B round of financing from a group of healthcare-focused capital firms namely Ally Bridge Group, CBC Capital, CBC Capital, and US New Enterprise Associates (NEA). NEA had pumped “tens of US dollars” in LinkDoc in 2015.
According to a recent report, jointly released by US global Boston Consulting Group, and Chinese tech giant Tencent earlier in July, more than 100 digital medical platforms are operating in China with accumulated users amounting to 620 million.