Online Mental Health Service Platform Haoxinqing Snares￥125M in Series A Funding Round

According to VCBeat, Beijing Haoxinqing Mobile Medical Technology Co. Ltd. ("Haoxinqing"), a Chinese online medical service platform focusing on the fields of mental psychology and chronic disease management, has raised 125 million in its Series A round, led by 6 Dimensions Capital, with participation from CDIB Capital and the existing shareholder KIP. 

As Chen Guanwei, founder and CEO of Haoxinqing, said, proceeds from this round will be used to expand the business scale, accelerate the R&D of the intelligent diagnosis and treatment system, and build excellent teams.

Founded in 2016, Haoxinqing focuses on development in the field of central nervous systems. By utilizing the intelligent diagnosis and treatment system and the online hospital service system, it helps users with mental and psychological diseases through rehabilitation management and online medical services. Recently, it has developed into the largest online hospital in the field of central nervous systems in China.

In less than a year after its establishment, Haoxinqing raised 50 million yuan in the angel round led by Nhwa Pharmaceutical. In 2018, Haoxinqing got another investment from Neutron Capital and KIP. So far, it has obtained more than 200 million yuan of investment.

Mental illness is a typical chronic disease, which often has a long course of disease and high dependency. It requires long-term and continuous services. Once the patient enters the diagnosis and treatment process, the trust is built between the doctor and the patient. Thus, Haoxinqing chooses to solve the problem from the perspective of a psychiatrist, with professional clinical solutions and technology to help psychological and mental patients as a medical service platform.

Haoxinqing uses algorithms to accurately match doctors and patients by their mental health needs and establishes one-to-one contact online. While protecting the privacy of patients, the platform is also beneficial for doctors to provide follow-up services. At present, the number of registered psychiatrists and neurologists on the platform of Haoxinqing has exceeded 27,000, accounting for about 70% of the total number of doctors in this field in China. Besides, the number of registered users has exceeded 3 million.

6 Dimensions Capital was established in May 2017 through the merger of Frontline BioVentures and WuXi Healthcare Ventures. It is a healthcare-focused investment firm with an in-depth focus and extensive coverage both in China and the global market.

CDIB Capital operates as the overseas investment arm of China Development Financial ("CDF"), one of the largest and longest-standing merchant banking groups in Asia with approx. US$25 billion in assets. CDIB Capital provides direct investments in Asian private equity, private debt, and special situations opportunities.