CareLinker, chronic disease management platform, received RMB 25 million (USD 3.8 million) in a Series A financing round led by Zhejiang Yongtai Technology and Fujian Yingke on Wednesday.
Zhejiang Yongtai Technology, a listed company, made an announcement on Wednesday that it has injected RMB 21.6 million into CareLinker and will hold 19% of its stake. At the same time, CareLinker received another RMB 3.4 million from Fujian Yingke, bringing the total fundraising amount to RMB 25 million.
According to the announcement, CareLinker will use this round of financing to promote its products in retail pharmacies to improve the company’s user database and background operating system, complete clinical research into a risk prediction and intervention model for chronic diseases, and recruit more IT developers and salespeople.
Founded in October 2014 in Shanghai, CareLinker aims to use big data to analyze and control chronic diseases including hypertension and diabetes. The company has its own app and a cloud database, and also produces medical devices to measure blood pressure, glucose levels, lipid levels and lung function.
CareLinker makes two types of medical devices: one for families and the other for pharmacies. Those for pharmacies are used with the app, because doctors who register on the app can help patients out with their tests and synchronize with the app to give patients their results. Since seniors, the main group affected by chronic diseases, rarely use smartphones, the family devices can be used on their own.
The company’s uniqueness lies in the three algorithms on its cloud. On the cloud, there is an analysis system to gather and analyze the user’s health data, a risk prevention model for doctors to help high-risk groups, and a system that can give personalized recipe suggestions and distribute health knowledge like how to measure blood pressure and the possible side effects of different drugs.
The company has worked with 3000 retail pharmacies in 38 cities to date since its products went online in April 2015. The company uses pharmacies rather than hospitals as its product promotion channels, a different strategy from most medical companies.
(Top photo from http://www.csdn.net.)