Shuming Technology Secures ￥100 Million in Series A Funding

(VCBeat) Mar. 9, 2021 -- Artificial intelligence (AI) company Shuming Technology today announced that it has closed ￥100 million in Series A funding, led by For Future Capital and Zeyue Capital. Proceeds from the transaction will be used for the R&D of AI algorithms and SaaS applications, and expand the technical operation team.

Founded in Shanghai in 2017, Shuming Technology is an AI company with the prediction and commercialization of insurance and users' behavior as its core business. Its technology is based on the fusion of multiple data sources, using AI algorithms to predict and analyze the user's consumption behavior.

Using AI algorithms, Shuming Technology has formed two lines of business. First, through the unique "Federated Modeling" technology platform, it has redesigned the optimal insurance process and user matching model to help C-end customers find the best health insurance plan/product that fits their specific needs. Second, Shuming Technology enables traditional insurance companies and innovative online insurance platforms to label and structuralize the user data, assists them to improve the secondary conversion rate and LTV (life-time value) of those users, and jointly optimize and customize their insurance products.

Weilai Capital is an industry fund dedicated to early-stage investment in the healthcare industry. Its cornerstone investor is the listed company By-Health Tomson. The investment direction mainly focuses on the investment opportunities brought by medical mode and technological innovation under the background of industrial upgrading, including innovative medical payment, new retail of medicine, import substitution of medical technology, and other directions.

For Future Capital is an industrial fund dedicated to early-stage investments in the healthcare industry. Its cornerstone investor is the listed company BYHEALTH. It mainly focuses on the investment opportunities under the background of industrial upgrading, including innovative medical payment, new retail of medicine, the substitution of imported medical technology and other directions.

Zeyue Capital is an equity investment company focusing on the medical and big health field, co-founded by senior people with rich industry experience. Its portfolio covers biomedicine, medical devices and medical services.