CITIC Capital and a private equity fund jointly established by the Agricultural Bank of China and the Wuxi government have led a RMB250 million (US$36.3 million) series B round in Beijing-based mobile health management platform More Health.
“With the coming of age of the mobile Internet era, health management has evolved from ‘health 1.0’ to big data and artificial intelligence-based ‘health management 2.0’,” said Kong Fei, CEO of More Health.
More health started as an incubation project under Chinese conglomerate SanPower Group. Its operator Beijing More Information Technology Co., Ltd. was founded in 2015 and has been devoted to creating a comprehensive healthcare platform integrating data collection, data analysis, health management solutions, health behavioral intervention and value-added services.
The company claims to have provided health behavior management services for nearly ten million business customers in the insurance, physical examination and banking sectors.
Its platform includes More Plus, which connects smart wearable devices such as smart wristband, blood pressure gauge, glucometer and fetus-voice meter, as well as a health data storage and analysis system, More Cloud.
The company says it plans to use the latest proceeds on product development, optimizing data analysis algorithm, and further synergy with its parent company SanPower.