China’s Quyi, medical apps developer raises $40 million in Series B round of funding led by Baidu along with existing investors HighLight Capital and SB China Capital.
Founded in 2014, Quyi is a developer of medical apps built to change the way China’s medical sector functions. The Shanghai-based startup has developed three services that focus core links in the industry. The three services are Quyiyuan, its flagship product works to improve the patient’s clinical experience by offering all relevant services, Quyi Hospital, a telemedicine system bringing together doctors to patients on mobile or in far-flung areas and the third one is a new product under process to connect medical institutions and medical instrument manufacturers.
All the app of the company are built on the extensive information platform, which is supported by patient data collected by Quyiyuan and has in-depth information of the partner hospitals. The company has on board more than 1000 public hospitals and expects to double the number by end of this year.
With the fresh funds, the company plans to improve its offerings and build more interesting apps on its platform. It also intends to expand business. This funding has increased the total funds of the company to $48.5 million. Apart from the new funds, the relationship with the Chinese Internet giant Baidu would help the company to gain more technical support in the form of Big Data, web security and cloud technology. Baidu is not all that new to the healthcare sector. It has already entered the sector with healthcare program ‘Beijing Health Cloud’ and the mobile app Baidu Doctor.