Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or “the Group”, HKEx: 2318; SSE: 601318) is delighted to announce that the Ping An Global Voyager Fund, has invested in AI medical solution company Airdoc in its B+ round of funding (Ping An has led the round along with CITIC). This investment aims to boost application of AI healthtech and bring the benefits of quality healthcare services to all.
Airdoc is a high-tech company dedicated to improving the efficiency of medical services through artificial intelligence. It develops deep learning techniques based on massive data labeled by medical experts and provides intelligent services to assist doctors and benefit patients.
Jonathan Larsen, Chief Innovation Office of Ping An Group, Chairman and CEO of Ping An Global Voyager Fund said: “This is an important investment for Ping An and the Global Voyager Fund. Airdoc brings world class AI-driven medical imaging analytical capabilities in multiple domain areas. There are many applications for their solutions within the Ping An health and financial services ecosystem, in China, regionally and internationally. We are excited to be working with such a high quality team both as an investor and a strategic partner.”
Dr. Marco Huesch, managing director and Chief Medical Officer Ping An Global Voyager Fund said, “We are excited to partner with Airdoc and proud to co-lead the firm’s Series B+ round. Airdoc’s market leading medical AI retinal imaging technology offers consumers a fast, convenient and accurate screening service for more than two dozen important diseases, all available at multiple, retail check-up center locations in China.”
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The Ping An Global Voyager Fund, Ping An’s $1Bn global corporate venture capital fund, was launched in May 2017 with a mandate to invest in fintech and healthtech businesses to accelerate Ping An’s technology transformation. In recent years, Ping An has been building up its expertise in the fintech and healthcare-related areas. The Group invested US$7 billion in R&D in the past decade and expects to invest a total of Rmb100 billion (US$15 billion) in the coming ten years. The core technologies such as AI, blockchain and cloud computing have and will continue to empower the Group’s five ecosystems — financial services, health care, auto services, real estate services and smart city services. Through applying innovative technologies to these ecosystems, Ping An will be able to seamlessly engage with customers to offer simple, professional and relevant financial services to help them better their lives and to help Ping An growth its business.