AI medical enterprise VoxelCloud closes latest financing

VoxelCloud, an artificial intelligence medical enterprise, announced Tuesday it successfully closed a round of strategic financing worth $50 million.

The latest round of investment led by Shenzhen Hongtai Capital Management Group, followed Sequoia Capital, Qingsong Capital and Hanfor Capital.

Ding Xiaowei, founder and CEO of VoxelCloud, said initially he did not want to disclose the news of latest financing. The reason why it announced the deal on Dec 18 was in response to expectations from the outside.

The domestic AI medical industry was in the infant stage two years ago, and most ideas remained at the "concept" stage, he said. And it was necessary to do active promotion with a view to letting more investment institutions and partners get to know its mystery.

"At present, the industry is accessible to more people, and entered the stage of moving into practice stage. Therefore it needs to consolidate its foundation in technology, products, and regulations, and get closer to the medical industry," Ding said, adding that "there is still a long way to go, there is still a lot of work to do, and these are all things that are difficult to catch the eye of the public."

Founded in early 2016, VoxelCloud offers automated medical image analysis algorithms and end-to-end solutions to help doctors make clinical decisions in a more accurate, accessible, and efficient way.

VoxelCloud, which has offices in Los Angeles, Suzhou and Shanghai, focuses on next-generation medical artificial intelligence and cloud computing.

"At VoxelCloud, we believe technology will allow millions of people to access high quality medical care, regardless of geographical and economical barriers. Our current solutions cover lung cancer, retinal diseases, and coronary heart disease," the CEO said.