Shenzhi Technology Closes ￥100M Series B Financing, Developing AI-Based Ultrasonic Products

(VCBeat) Jan. 23, 2021-- Recently, AI company Shanghai Shenzhi Information Technology Co., Ltd. ("Shenzhi Technology") announced the closing of a Series B round worth 100 million RMB led by GGV Capital.

Shenzhi Technology was incubated by portable diagnostic ultrasound medical equipment provider Stork Healthcare and formally established in 2018. The company focuses on intelligent diagnosis and AI applications with ultrasound and has formed more than 10 kinds of image databases covering over 30 diseases. Shenzhi Technology has also built a cloud-based ultrasound imaging center. Its AI-based ultrasound products have covered diseases of thyroid, breast, liver, carotid plaque, pelvic floor, orthopedics, and neurology.

In 2020, Shenzhi Technology raised three rounds of financing totally from investors including ZheShang Venture Capital, Shun Yi Capital, Health 100, etc. According to Zhu Ruixing, CEO of Shenzhi Technology, the fresh round of funding will be used to develop ultrasonic products and accelerate commercialization.

The emergence of AI provides a solution for the problem of the popularization of ultrasonic products. On the one hand, AI can make large ultrasonic equipment smarter and become an intelligent terminal integrating data collection, management and analysis, and deep learning. On the other hand, AI can lower the threshold for the use of ultrasound, so that more non-professional doctors can learn how to use the equipment, and "examination" is an essential process to solve the structural contradictions of diagnostics and treatment.

At present, the products of Shenzhi Technology have served more than 600 hospitals from the first-class hospitals at third grade to primary hospitals, building a mature business network. The next goal of Shenzhi Technology is to get the approval of class III devices and realize the transformation from launch to commercialization.

GGV Capital is a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds.