Taimei Tech Closes ￥1.2B Series F Round

According to VCBeat, on September 28, 2020, Taimei Technology ("Taimei Tech"), a medical SaaS solution provider, announced the completion of a ￥1.2 billion Series F funding round, co-led by Tencent, Hillhouse Capital, and YF Capital, with additional support from Morningside Venture Capital, Matrix Partners China, Zheshang Venture Capital, SB China Capital, Cowin Capital, Ivy Capital, Weilai Qichuang Fund, and Fanzhuo Capital.

Taimei Tech will continue to play the role of a life science digital platform, to promote the integration of innovative pharmaceutical industry resource and the construction and optimization of information infrastructure, to improve its services. It takes "let the good medicine within reach" as its mission and aims to accelerate the digitalization in new drug R&D. 

As a leading technology solution provider in the field of life sciences, Taimei Tech is dedicated to propelling biopharmaceutical industry development through state-of-the-art information technology, with a focus in the field of clinical research and pharmacovigilance. 

Taimei Tech provides the cloud platform for seamless clinical research collaboration between sponsors, sites, CROs, patients, regulatory agencies, and third-party providers. On the foundation of its platform are 6 technology-enabled solutions encompassing data management, project management, electronic regulatory submission, central medical imaging, pharmacovigilance, and drug logistics. With biopharma industry drug development pain points in mind, Taimei Technology is dedicated to improving R&D quality and efficiency for accelerating innovation time-to-market while reducing costs. 

Taimei Tech cooperates with pharmaceutical enterprises, CRO, and research institutes. To date, the company has established close collaborations and strategic partnerships with over 200 leading local and global pharmaceutical companies and CRO. 

Founded in Shenzhen, China, in 1998, Tencent is an internet service portal offering value-added internet, mobile, telecom, and online advertising services. The company is well-known for its communications and social platforms Weixin and QQ.

Hillhouse Capital is an investment management firm that invests with a long-term time horizon. Hillhouse owns companies across equity stages, spanning the range from new start-ups to the world’s most established public companies. The company invests globally, with a particular focus on Asia. Its team members are sector experts in consumer, Internet, media, and healthcare.