Chinese mobile medical company secures USD 4.6M in Series A financing

Chinese mobile medical company Paiyipai disclosed that it has received RMB 30 million (USD 4.56 million) in Series A financing led by Mountain View Partners, followed by Yilian Capital, Han Xiaohong from Ciming Checkup, and Redpoint Ventures, Chinese tech media site 36Kr reported on Monday.

The Beijing-based mobile medical startup raised a few million RMB in angel investment from Redpoint Ventures last March.

Paiyipai can analyze laboratory test results and store users’ medical records through a smartphone app. Users can upload photos of their laboratory test results to the app for analysis. The app will also send relevant medical information to users. It also plans to add other functions such as reminders for patients to take their medicine and medicine price comparisons, Sohu News reported.

Wu Shizhan, co-founder and CEO of Paiyipai, said besides individual users, there’s a high demand from companies who want to use their technology. Paiyipai will expand its business by cooperating with companies.

Paiyipai decided to open its technology to companies after this round of financing. They will share the technology for scanning and analyzing photos of medical documents to build a photo recognition cloud platform. It will also provide medical and pharmaceutical organizations with internet technology services including big data, artificial intelligence, machine vision, data mining and the construction of an information system. It is also aiming to provide medical startup companies with services such as making apps for startups.

Wu said Paiyipai is working with more than 10 companies at the moment. It is working with a Chinese mobile health management company named Jijiankang, which develops photo recognition technology. Paiyipai also plans to set up a joint venture with China’s largest hemodialysis company Dakang Medical.

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