Naxions Raises $15 Million in Series B Round, Led by Volcanics Venture and CCV

According to PEdaily .cn, Naxions has closed a $15M financing round led by Volcanics Venture and CCV. Proceeds will be used to improve AI technology, accelerate the R&D of products, expand service value, expand application and cooperation with doctors, patients, and pharmaceutical companies.

Founded in 2014, Naxions is an AI-based technology company providing digital marketing solutions for drug manufacturing enterprises through natural language processing (NLP), big data analysis, and neural network algorithm, to integrate regional medical data. Naxions creates a medical knowledge map and puts the doctor in the central place, covering radiation medicine, diagnosis, treatment, materials, and surgeries, to pass the information of new drugs to doctors efficiently, enabling doctors at the grass-roots level to obtain the same professional knowledge. 

Naxions currently connects 20 leading pharmaceutical companies with about 45,000 doctors in China, with a drug market scale of 600 million yuan (US$85.41 million). It serves dozens of world top 500 pharmaceutical companies including Pfizer, Janssen, and Bayer.

Founded in May 2016, Volcanics Venture invests in the most promising companies and outstanding entrepreneurs in Internet Innovation, Intelligent Technology, and the Healthcare industry. Managing Partners Suyang Zhang, Yeshun Dong and Ying Wu have been working closely for years as first-class USD/RMB fund managers.

CCV was founded by the former KPCB China Managing Partner, Wei Zhou, and his TMT investment team of many years in KPCB China. With the majority of members from KPCB China, CCV has developed deep domain expertise and insight in the TMT industry. The company has invested JD.com, CreditEase, Rong360, etc. Many of the CCV’s portfolio have seen significant business growth and closed a new round of financing.