According to PEdaily.cn, Ningbo Konfoong Bioinformation Tech Co., Ltd. ("KFBIO"), an innovative company of artificial intelligence (AI) in digital pathology, has closed a Series B round of financing, with a total amount of funding rounds over 100 million RMB. The latest financing is led by Intel Capital, with participation from Zhejiang Newline Media Investment and Yinxinggu Capital.
Proceeds of this round will be used for the development and launch of KFBIO's AI pathology-based products, the expansion of overseas markets, and the upgrading of the cloud pathology platform.
Founded in 2011, KFBIO is a total solution provider of pathology related products which include sample processing equipment, digital pathology scanning systems, pathology information system and DL algorithms/models for detecting and classifying precancerous changes and abnormalities. Holding more than 200 patents, KFBIO has the ability to provide intelligent solutions for pathology.
KFBIO is a member of the Intel® AI Builders Program. In 2018, Intel and KFBIO jointly established the laboratory focusing on the research and development of AI-powered pathological applications. By 2019, great results have been achieved -- the automated cervical cancer cell screening system was born in the laboratory, which can improve the efficiency by more than 50 times compared with the existing system. The deep learning-based screening assisted diagnostic system of cervical cancer has provided the cervical cancer screening service for hundreds of thousands of women.
Intel Capital is a strategic investment program of Intel Corporation, and a global commitment aimed at investing in the future of disruption. Since 1991, Intel Capital has invested US$12.4 billion in 1,544 companies in 57 countries worldwide, and 670 portfolio companies have gone public or been acquired.
Zhejiang Newline Media Investment directly manages and operates assets of over 2 billion yuan. According to the risk assessment and benefit requirements, the company invests actively in the cultural media, emerging industries, consumer goods, modern services, and financial fields.