Yuanxin Technology Obtains More than ￥1.5 Billion Series F financing

(VCBeat) Aug. 03, 2021 -- Beijing Yuanxin Technology Group Co., Ltd. ("Yuanxin Technology") today completed a Series F financing of more than RMB 1.5 billion, with participation from Sequoia Capital China Fund, Springhill, B Capital Group, Hel Ved, OrbiMed, UOB, E Fund, ABI Capital, Bank of China International, Inche Capital, CITIC Securities, Kunhui Capital, Future Innovation, Index Capital, etc. Index Capital continues to act as the exclusive financial advisor.

This is another round of financing received by Yuanxin Technology after the Series D financing in June 2020 and the Series E financing in February 2021. Previously, The group's investors have included many top institutions, covering primary and secondary markets, TMT and healthcare, industrial capital, and financial capital. The diversified top shareholder team undoubtedly reflects the high recognition of the capital market on the huge potential of Yuanxin Technology.

After this round of financing, Yuanxin Technology will further expand the out-of-hospital service network for patients, and customize the post-diagnostic management system for patients with multiple diseases, accelerate the construction of online hospital network, construct a patient service portal, and provide patients with full-cycle diagnosis and treatment solutions integrating in-hospital and out-of-hospital, online and offline services, further develop multi-disease and multi-form commercial health insurance products to meet users' demands for medical and health care, build IT systems and data systems that connect patients, doctors, hospitals, pharmaceutical and insurance companies, and build the digital infrastructure.

Founded in 2015, Yuanxin Technology has always adhered to localized doctor-patient connection as the core, and gradually developed a business matrix such as Master Doctor, Yuanxin Pharmacy, Yuanxin Huibao, Yuanxin Medical Technology, etc., in doctors, pharmaceutical companies, insurance companies, hospitals and hospitals. Efficient service bridges are built between patients.

At present, Yuanxin Technology is building a leading domestic out-of-hospital disease management network and in-hospital digital smart service network. Based on the two networks inside and outside the hospital, the company is providing patients with a one-stop medical drug payment solution that integrates both inside and outside hospitals and online and offline integration; Companies provide digital-driven marketing, sales, R&D and patient management solutions; provide doctors with one-stop service solutions including academic exchanges, education and training, multi-point practice, patient management, etc.; provide insurance companies with product design, Full-stack operation solutions including actuarial pricing, surveys, and claims services.

Sequoia Capital China, as the "entrepreneur behind entrepreneur", focuses on investment in four directions including technology/media, healthcare, consumer goods/modern services and industrial technology. Over the past 15 years, Sequoia Capital China has invested in nearly 600 enterprises with distinctive technical characteristics, innovative business models, and high growth and development potential.

OrbiMed is a healthcare-dedicated investment firm, with approximately US$5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies.