RivaMed Receives ￥100M Series B Financing, Providing IoT Solutions of Smart Hospitals

(VCBeat) Jan. 20, 2021 -- In January 2021, Zhejiang Ruihua Kangyuan Technology Co., Ltd. ("RivaMed") announced the closing of a Series B financing of hundreds of millions, led by SDIC Venture Capital, with participation from China Creation Ventures, Delta Capital, and the existing investor IN Capital. 

The funds are earmarked for the product development of RivaMed’s smart hospital solution, the construction of the Internet of Things (IoT) platform, as well as the business expansion of AI and IoT management software.

RivaMed is a developer of healthcare IoT solutions, focusing on pharmacy automation and intelligent logistics & supply chain management. Products include smart management cabinets, medical robots, delivery management, software products, and more. The company aims to reduce the uneven distribution of medical resources, improve medical staff efficiency, reduce medical errors, improve medical quality, and increase operational management efficiency.

RivaMed provides an overall solution from IoT, platformization, big data to intellectualization for smart hospital construction, covering the scenario of smart management, smart medical treatment, and smart services. 

Relying on the solutions close to the clinical needs and optimizing the operation efficiency of medical institutions, RivaMed has been deeply engaged in the construction of smart hospitals, occupying 80% of the market share among the Top100 hospitals in China, and more than 40% of the market share among the Top100 medical institutions.

Founded in 2016, SDIC Venture Capital is a fund management company founded by the State Development and Investment Corp. (SDIC), under a market-driven governance structure. SDICVC currently manages four funds, with AUM at 14 billion yuan.

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 companies they invested at the early stage include JD.com (NASDAQ:JD), CreditEase (NYSE:YRD), Rong360 (NYSE:JT), and so on.