Thursday, 12 December 2019

HuiyiHuiying raises funds for innovative AI applications

09 November 2018 | News

HY will use the funding proceeds to support its business development, product innovation and talent recruitment initiatives.

HuiyiHuiying (HY), a leading medical imaging artificial intelligence (AI) company in China, recently announced the previous close of a strategic investment led by Intel Capital with participation of Beijing Singularity Power Investment Fund (SPC), marking the first investments by the firms in the medical AI sector in China. HY will use the funding proceeds to support its business development, product innovation and talent recruitment initiatives.

HY is a medical imaging AI company committed to implementing innovative computer vision and deep learning technologies in the medical sector. The company has achieved rapid growth since its establishment in 2015 and has received investments from CDH, Delta Capital, Bluerun Ventures and Yield Capital. HY is collaborating with more than 800 medical institutions in China in clinical applications and scientific research projects, including the Chinese PLA General Hospital, Peking Union Medical College Hospital, Beijing Friendship Hospital and several medical associations. The company is expanding its business into overseas markets including the United States, Japan, Southeast Asia, India and Europe.

HY and Intel previously established a joint AI laboratory and this new investment from Intel Capital further extends their collaboration. In September 2018, Intel and HY announced the two companies will work together to develop an AI full-cycle breast health management cloud platform to support breast cancer screening and diagnosis. HY will use the investment from Intel Capital to help enhance its R&D capabilities, broaden its market reach and further grow its business as a leading medical AI solution provider.

 

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