China Digest: Nanyan Information, Lachesis in funding news

Lachesis provides intelligence ward and chronic disease management for hospitals.

Online insurance service company Nanyan Information Technology has raised 100 million yuan ($14 million) in a Series B2 round of funding led by BOC International Holdings Limited. In a separate development, China’s top medical technology company Lachesis has raised 150 million yuan ($22 million) in a Series B+ round of funding from Shenzhen Municipal Government-backed Shenzhen Capital Group Co., Ltd.

Nanyan Information raises $14m in Series B2 round

Online insurance service company Nanyan Information Technology raised 100 million yuan ($14 million) in a Series B2 round of funding led by BOC International Holdings Limited, a large investment institution under the Bank of China, per a company statement.

The round has been joined by Nanyan’s existing investors but their names have not been disclosed.

Headquartered in Shanghai, Nanyan offers services pertaining to cloud architecture, cloud storage, and cloud computing solutions for insurance majors on its platform. It was set up in 2015 and to date, it claims to have served over 10,000 insurance companies in Tier I and Tier II cities across the country. Recently, Nanyan made headlines for acquiring Medilink-Global, a healthcare insurance service company.

Prior to the current round, Nanyan has closed a few rounds of funding. In 2018, Nanyan has secured $15 million in a Series B+ round led by global insurance and investment organisation Starr Companies, with the participation of SIG and Bluerun Ventures. In 2017, it raised funding in a Series B round from SIG and Bluerun Ventures. In 2015, Bluerun Ventures led an undisclosed Series A round in Nanyan. 

Lachesis raises $22m in Series B+ round;

China’s top medical technology company Lachesis has raised 150 million yuan ($22 million) in a Series B+ round of funding from Shenzhen Municipal Government backed Shenzhen Capital Group Co., Ltd (SCGC).

The round also the participation of its existing investor GTJA Investment Group, a private venture focused on healthcare industry investments, according to a statement. 

Established in 2010, Lachesis provides hospitals with smart ward and chronic disease management solutions, thereby helping doctors, nurses, and patients with new technologies such as the Internet of Things (IoT) and big data to upgrade clinical service.

Its claims to be catering to over 700 hospitals in China, including Peking Union Medical College Hospital, Peking University First Hospital, and Huashan Hospital of Fudan University. 

The corpus raised will be used by Lachesis to develop its intelligent platforms such as doctor station, nurse digital assistant, and close-loop infusion management system. 

Earlier, the company raised its Series B round in August 2018 led by GTJA Investment Group with participation from Vstar Capital. A year before that, CICC Capital made its debut investment in Lachesis. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.