AI startup completes new funding round

Shukun Technology, a Beijing-based medical AI startup, announced on Monday it had completed B-round funding to the tune of 200 million yuan.

Founded in 2017, the company develops diagnostic systems that use machine learning and AI technologies for hospitals to improve efficiency in cardiovascular disease treatment, and obtained more than 100 million yuan during an A-round of fundraising in July 2018.

The B-round funding was led by China Creation Ventures, a venture capital firm focusing on the TMT sector in China. Other investors included HG Capital and Morningside Venture Capital,which had invested in the previous round. Its angel investor Marathon Venture Partners also invested in the B-round.

According to the 2017 Report on Cardiovascular Diseases in China by the National Center for Cardiovascular Diseases, China has more than 290 million cardiovascular disease patients, and 3 million die from cardiovascular disease each year.

The company claimed it has the largest market share in Chinese hospitals among medical AI companies in the cardiovascular disease sector, measuring by the number of products installed and used.

After this round of funding, the company will invest more into research and development and extend to more disease sectors such as tumors and nervous system disorders. It will also meet medical AI needs in heart, brain, lung, breast and prostate diseases.