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Medicus AI: Millions in Chinese venture capital investments for a Viennese medtech company

founder and CEO Baher Al Hakim © Medicus AI

Now it received an additional EUR 1.2 million in investments from the Chinese venture capital firm Sunhope Capital VC within the context of its expansion to China. This should be followed soon by a EUR 20 million Series B round of financing.

In the meantime, the Viennese medtech startup Medicus AI offers an entire range of software tools for diagnostic laboratories, the medical profession and insurance companies. The focus is always on ensuring greater understandability and interactivity in medical communications. The firm has an "obsessive and meticulous approach to data protection" and passionately believes on the democratisation of healthcare data, according to the startup. Thanks to its products, the company has already attracted numerous large customers for example in France, Germany, Switzerland, Luxembourg and the Middle East. In addition to the headquarters in Vienna, Medicus AI has already established offices in Berlin, Paris and Beirut.

On the basis of its recently launched expansion to China, featuring a new subsidiary in Shenzhen with 18 employees at present, Medicus AI already succeeded in winning over China's largest life insurance company, amongst other clients. This was followed by an initial investment for the local Medicus AI subsidiary in the Middle Kingdom. The Chinese venture capital company Sunhope invested a total of EUR 1.2 million. A Series B financing round aiming to raise EUR 20 million is planned to take place in 2020. The startup already proved this year that this objective is a realistic one. It first concluded a Series A round of financing leading to proceeds of EUR 5 million just a few months ago.

The next international expansion targets are Brazil, Japan, Portugal, Belgium and the Netherlands.

Read also our blog bon the Startup Hotspot Austria.

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