Shanghai-based medical AI solutions provider United Imaging Intelligence (UII) has secured 1 billion yuan ($139.1 million) in a Series A funding round at a pre-money valuation of 9 billion yuan ($1.3 billion).
The round was co-led by the private equity arm of China’s largest mutual fund manager, E Fund Management, and Shanghai Sitoco Assets Management, a subsidiary of state-owned Shanghai International Group (SIG), according to a company release on June 20.
Parent firm United Imaging Healthcare Technology Group joined the round, alongside a number of investment firms including Sun Rock Capital, Junwei Venture, Tsing Song Capital, and Suzhou Capital Group.
Post financing, Shanghai-listed United Imaging Healthcare Technology Group holds around 24.1% stake in UII, making it the largest shareholder of the firm, according to an exchange filing.
The proceeds will help the firm in accelerating the integration of large language models (LLMs) into clinical settings, per the release.
Founded in 2017, UII is considered one of the few full-stack and full-spectrum medical imaging AI firms in China.
UII’s recent fundraise comes as Chinese firms continue to push the boundaries of AI innovations. Several Chinese GPs have been rushing to the market to capitalise on emerging investment opportunities and policy support.
