(Yicai Global) Dec. 28 -- Shukun Beijing Network Technology, a Chinese medical artificial intelligence company, has secured CNY590 million (USD90.4 million) in its latest round of financing.

The funding was led by Sequoia Capital China, Beijing-based Shukun said in a statement released today, and brings the total the firm has raised this year to CNY1 billion.

The new funds will go toward boosting research and development of original drugs, accelerating product distribution to medical institutions, and fully applying digital productivity in the construction of smart hospitals across China.

Established in 2017, Shukun uses medical AI neural networks to provide smart diagnosis and treatment solutions for diseases. For example, it provides services for cardiovascular disease screening and surgical guidance, as well as imaging solutions for acute stroke and various cerebrovascular diseases. Its products are used in more than 400 hospitals in China.

Before this latest fundraiser, Shukun had completed several rounds totaling about CNY700 million, from investors such as Qiming Venture Partners, BOC International Holdings, China Creation Ventures and Morningside Venture Capital.

Imaging diagnosis is one of the most mature application scenarios for the combination of medical and AI, said Neil Shen, managing partner at Sequoia Capital China, adding that the National Medical Products Administration has approved one of Shukun’s softwares for coronary computed tomography as a Class III medical device.

The company has achieved breakthrough innovation in technology and business model in the field of cardio-cerebral imaging through differentiated clinical pathways, Shen said.

Editor: Peter Thomas