PVmed, a Guangzhou, China-based global artificial intelligence (AI) cancer treatment company, secured $$14 million (RM 100 million) in Series A funding.
The investment was from investors including Cherami Investment Group, Philips, JHF Investment, COCOCAPITAL Corporation, and Strategy Capital.
The funding will enable the company to further develop its AI cancer treatment product portfolio and ecosystem. It will also accelerate the adoption of the company's AI-defined cancer surgery and radiotherapy workflow software and hardware products by hospitals and medical technology companies.
Said Chenyang Xu, President, and Co-Chairman at PVmed, "We are very pleased to receive this funding support from these leading Chinese and global financial and corporate investors. We are also excited about the strategic insights and resources these investors can provide. With thousands of doctors now using PVmed's AI cancer treatment workflow products, benefiting hundreds of thousands of cancer patients, it's clear the era of AI-defined cancer treatment procedures has arrived."
The company has received six medical device certifications (two NMPA Class III, one FDA 510k, and three NMPA class II), 92 invention patents, and 41 copyrights for its software for global medical institutions, equipment manufacturers, and technical service providers.
It has formed partnerships with a number of leading hospitals in China and Singapore and has strategic collaboration agreements with Philips, Elekta, Noah Medical, RADLogics, Neusoft, MinFound, and Kanda Medical Equipment.
Company: Guangzhou Perception Vision Medical Technologies Co., Ltd.
Round: Series A
Funding Month: December 2022
Additional Investors: Cherami Investment Group, Philips, JHF Investment, COCOCAPITAL Corporation, and Strategy Capital
Company Website: https://www.pvmedtech.com/en/
Software Category: AI Cancer Treatment
About the Company: Founded in May 2017, PVmed is a medical artificial intelligence and has been leading the field of AI-enhanced auxiliary diagnosis and treatment based on medical imaging across the globe. PVmed’s main business is to develop and sell auxiliary diagnosis and treatment software with IT services provided, offering solutions for multi-disease and multi-modal diagnosis. Its products are all self-developed, and many technologies are at an international or domestic leading level, with more than 50 domestic patents and 20 software copyrights. Since its launch in May 2017, PVmed has developed a portfolio of AI-defined cancer treatment workflow products that have generated substantial interest from surgical oncologists, radiation oncologists, and medical physicists.