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Economy · Business
Intel Capital makes its maiden medical AI investment in Chinese firm Huiyi Huiying
CKN
2018/11/09 05:57:12
1,631

Nov 09, 2018 (China Knowledge) - Intel Capital, the venture capital arm of Intel Corp has made a strategic investment in China’s medical imaging artificial intelligence firm Huiyi Huiying (HY) for an undisclosed amount. Beijing Singularity Power Investment Fund also participated in HY’s funding round.

This is the first investment by Intel Capital and the Beijing Singularity Power Investment Fund into China’s medical AI sector.

HY currently works with more than 800 medical institutions in China for clinical applications and various scientific research projects. The company intends to use the funds to support its business development, product development and recruitment drive as it seeks to expand to overseas markets such as the U.S., Europe and Asia.

Intel and HY will cooperate in developing a full cycle AI powered breast health management cloud platform to support breast cancer screening and diagnosis. AI currently has the potential to revolutionize medical treatment and the two companies hope to utilize this technology to create a smart system which can bring about better health for its customers.

Intel itself has been looking towards the Chinese market over the past few years investing in various startups such as Chinese computer chip maker Horizon Robotics, image analysis and facial recognition company Reconova, cloud service provider Alauda and semiconductor maker Espressif Systems.

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