Telehealth platform TaiDoc Health, an associate firm of top Chinese insurer China Pacific Insurance, has pocketed 920 million yuan ($127.3 million) in its latest funding round.
The round roped in SIG Asset Management, the wholly-owned subsidiary of state-owned financial holding group Shanghai International Group; Japanese insurer Mitsui Sumitomo Insurance; as well as existing shareholders including China Pacific Insurance and HongShan (previously Sequoia Capital China).
Founded in 2020, Shanghai Shantai Healthcare and Technology Company — which operates the TaiDoc Health platform — will use the proceeds to upgrade its healthcare offerings, according to a company release on Wednesday.
The Shanghai-registered firm taps into the uneven distribution of medical resources that has long plagued the country’s healthcare system.
Big tech-backed or insurer-backed telehealth platforms have emerged over the years to address these pain points, including Hong Kong-listed Ping An Healthcare and Technology Company (previously known as Ping An Good Doctor), Alibaba Health Information Technology, and JD Health International.
