Shukun Technology, AI-driven medical startup, has recently closed its Series B1 financing round to raise US$28.2 million (RMB200 million) in equity. Led by BOC International – the investment arm of state-owned Bank of China – the round also saw participation by other venture capital firms like China Creation Ventures and Huagai Capital.
The Beijing-based startup was founded in 2017 and incorporates AI in its development of medical diagnostic tools for chronic diseases particularly heart disease. With the help of machine-learning algorithms and a database containing organ imaging of millions of healthy and diseased hearts, Shukun Technology has been able to improve the accuracy of heart CT scans.
Apart from being able to apply its technology to more organs and other clinical abnormalities like tumours, Shukun Technology also intends to use the freshly raised capital to make its technology accessible in all levels of hospitals, as well as enhance the medical competencies of grassroots-level clinics. With the paired combination of machine and human expertise in its approach, Shukun Technology aims to improve the level and efficacy of the medical service for key stakeholders
Since its establishment, Shukun Technology has worked with hundreds of leading hospitals and have secured strategic agreements with medical equipment manufacturers like GE Healthcare and Philips Healthcare.
Managing Director of BOC International, Wang Lixin, elaborates on the AI medical scene, noting that “The empowerment of artificial intelligence technology in the field of medical imaging has made the collection and analysis of medical data faster and better, greatly improving patient’s medical experience and imaging doctors’ diagnosis efficacy.”
In support of the new financing round, Lixin adds that “We are very happy to see that more and more medical institutions and equipment manufacturers have built in-depth cooperation with Shukun, which will actively promote the development of higher quality medical treatment in China.”