Showing posts with label tencent. Show all posts
Showing posts with label tencent. Show all posts

Monday, October 13, 2014

Tencent Leads US$100M Investment in Chinese Medical Service, an online medical service provider, announced today over US$100 million funding which is led by Tencent.

Weiyi, a pair of mobile apps for connecting patients and doctors, will be integrated into Tencent’s mobile messaging apps, WeChat and Mobile QQ, according to the announcement. Guahao means patient appointment scheduling in Chinese. That’s where the company started off in 2010. has introduced more than 900 hospitals in 23 Chinese provincial level regions. Users are able to find all the hospitals and doctors on the site, schedule appointments, read medical tips provided by doctors, or rate hospitals/doctors.

The site has more than 37 million verified users and 120,000 registered doctors, according to the company.

Weiyi is a newly established service that will expand existing offerings to mobile payments, medical record keeping, and more features for interactions between doctors and users. Weiyi will be officially launched later this week.

Medical and healthcare has become another vertical industry, apart from transportation, mobile commerce/payments, and the like, where Chinese Internet giants have begun fighting. Alibaba Group announced a Future Hospital plan earlier this year that would add features similar to what Guahao has and will offer onto Alipay Wallet, the flagship mobile app of the Chinese e-commerce giant.

Before Guahao, Tencent has invested US$70 million in Dingxiangyuan (DXY), a Chinese online medical service which is focused on medical & health information and hospital & doctor data.

Thursday, September 18, 2014

Israel Looks To China And The East - Article by Jennifer L. Schenker

Written by Jennifer L. Schenker

When Pebbles Interfaces, an Israeli gesture-control start-up, needed to expand into Asia in 2013 it turned to Xiaomi, one of China’s largest smartphone manufacturers, to help it complete an $11 million round. It was among the first Israeli tech startups to receive funding from a Chinese company.

It will most certainly not be the last. Israeli high-tech companies and the venture community have traditionally looked at the U.S. as a source of funding and as a primary market, particularly in the software, Internet and media sectors. But times are changing and Israeli companies are increasingly looking east.

It’s not surprising: if predictions are right, ten years from now China will have overtaken the U.S. as the world’s largest economy. Technology will play an important role in helping China move ahead. So, “as Israel has innovative technology solutions to offer, we are beginning to see a growing Chinese interest in Israel, alongside a growing Israeli business interest in China,” says Chemi Peres, a co-founder and managing partner at Israeli venture firm Pitango Ventures.

Indeed, the ties between Israel and China’s tech sectors are “growing tremendously year on year,” says China specialist Yair Geva, a lawyer in the high tech and M&A group at Israeli law firm Herzog Fox & Neeman.

A lot of M&A Activity

The investments — which were nonexistent until about three years ago — began with deals targeting traditional sectors. China National Chemical Corporation acquired Israeli agrochemicals manufacturer Makhteshim Agan Industries in 2011 in a deal worth over $2 billion. Han’s Laser Technology, a Chinese supplier to Apple, bought Israel’s Nextec Technologies in 2013 to expand in the market for laser measurement devices used in the auto and aircraft industries. Earlier this year Bright Food Group, the dairy and consumer-products company backed by the Shanghai government, purchased Tnuva Food Industries.

There has also been a lot of M&A activity in the medical devices and pharmaceutical sectors. Now the focus is turning to the Internet sector. Last year Israeli startup company Cortica, which develops photo identification technologies, raised $20 million. The lead investor was one of China’s big four Internet companies. (It chose not to disclose its name publicly.)

“Tencent, Qihoo 360, Alibaba and Baidu are all very active here now and are considering opening accelerators here,” says Geva. “We will see real M&A activity in this field as well. Once this happens Israeli companies will be even more open to focus on the Chinese market as opposed to only looking at the U.S.”

The reason for this investment is “Chinese companies are seeking access to cutting-edge technologies and the way for them to do that is to invest in an Israeli start-up company and in parallel to have some sort of business development with that company. That was the case for Cortica and it is the case for Pebbles Interface,” says Manor Zemer, a banker at Lanta Capital Holdings, a Tel Aviv consulting company that mainly focuses on seeking investment opportunities and business cooperation for Chinese technology companies and venture capital funds in the Israeli high-tech arena.

Venture Investments Are On The Rise

Another example is Visualead, a QR code design maker, which has formed a joint venture with Renren, a Chinese messaging system similar to Twitter, and recently moved to Shanghai.

Along with M&A deals, venture investments in Israeli start-ups are on the rise. Horizon Ventures, the venture capital fund of Hong Kong billionaire Li Ka-shing, is now among the most active venture firms in Israel. It has invested in more than 25 start-ups in Israel in the last three years, says Horizon Ventures’ Gilad Novik, a scheduled speaker at the DLD Tel Aviv Innovation Festival.

Some of the investments are being made indirectly. Israeli venture firm Pitango Venture Capital has raised money from investors in China, Korea, Taiwan and India for a fund. “All of those investments were first-time investments in Israel and I think this trend will continue to grow,” says Peres.

“In many cases China is willing to invest in Israel assuming there will be matching funds. It is always a challenge to find matching funds. We need a little more time to redefine the way we work with China and the Asia-Pacific region as a whole but the potential is huge and we are just at the beginning.”

Genesis too is “starting to look at China and Chinese corporations and investors as a potential source of funding for our fund,” says Jonathan Saacks, a partner at Israeli venture firm Genesis Partners. 

China’s Focus On Israel Will Continue To Grow 

Amid all of the activity the number of government-funded R&D projects between Israel and China is dramatically increasing. “Every year with China there are more agreements and activities and I believe in the next few years there will be almost the same or even more cooperation between companies in Israel and China than there are with the U.S. ” says Avi Luvton, executive director of Asia Pacific in Israel’s Chief Scientist’s Office.

Ties with academic institutions are also being strengthened not only through R&D projects but also due to a $130 million grant to Israel’s Technion University from the Li Ka-Shing Foundation. The contribution is a part of a larger deal in which the Israeli university will partner with China’s Shantou University to establish a technology institute to be called Technion-Guangdong Institute of Technology, in Shantou (Shantou is a city in China’s southern Guangdong province). The new institute will be built with Chinese funding, but will grant its graduates a Technion diploma.

“China’s focus on Israel will continue to grow, and so will its interest in the Middle East as a whole,” predicts Peres. “These two trends offer opportunities for cutting-edge Israeli technology companies as well as the region as a whole.”

Source: Infomilo

Monday, September 8, 2014

Tencent to invests $20 million in mobile game developer PATI

PATI Games, A Korean mobile game producer, announced it has successfully secured a US$19.7 million investment from Tencent, China’s largest Internet service provider. Tencent would invest the amount through the third-party allocation of new shares. With this capital infusion, Tencent became the second largest shareholder of the company with a 20% stake.

PATI Games underwent is in preparation for going public on the Kosdaq market last July and with the Tencent’s investment it is expected to step on to overseas mobile game markets earlier than expected.

Lee Dae-hyung, CEO of PATI, said, “I’m thrilled to have a new growth momentum with the Tencent’s investment amid a situation of ever-fierce mobile game competition. We expect the capital infusion will strengthen our mutual relationship.”

Tuesday, September 2, 2014

TenCent to Invest $70 In DXY, an Online Healthcare Service

DXY, the largest online healthcare service community in China, announces that it will receive a strategic investment of US$70 million from Tencent Holdings Limited, a leading provider of comprehensive Internet services in China, in exchange for a minority equity stake of DXY on a fully diluted and as converted basis. The transaction is expected to close in the near future.

Following the closing of this investment, DXY will work with Tencent on a series of initiatives to bring its services to Tencent's various platforms, including exploring possible services to integrate into Weixin and Mobile QQ. DXY has unique medical resources and the largest network of doctors in China. Its team is made up of medical and life science professionals with deep expertise and solid understanding of the healthcare sector in China.

DXY plans to invest the capital received from this investment and other resources into developing healthcare products for doctors, pharmaceutical companies, and consumers. Its priority is to create better products and content for doctors in China and to bring doctors and pharmaceutical (medical device) companies together on a single platform that can be accessed through multiple channels and allows for a more legally compliant and effective way of exchanging ideas and knowledge. Leveraging big data technology, DXY will also provide more accurate and higher value human resource solutions to healthcare companies and medical institutions in China.

Moving from servicing doctors and healthcare companies to consumer healthcare is one of DXY's goals. This is also why DXY chose to raise capital even when it is already earning sizable profits currently. In the past year, DXY has been investing in and exploring opportunities related to consumer healthcare. DXY's products, such as the Family Medicine App and DXY Doctor, accumulated millions of users even without spending on marketing. Looking ahead, DXY plans to launch products in three categories -- Weixin-based products, mobile apps, and Web-based products -- to continue to provide reliable medical and healthcare information and services to consumers.Given the prevalence of fake and inaccurate medical and healthcare information in China, which negatively impacts consumers, DXY is especially focused on ensuring the "reliability" of the information it provides through its platform. This is also the reason behind DXY's decision to enter into consumer healthcare.

DXY also plans to experiment with O2O services, providing doctors in China with a platform and resources to carry out their medical practice on the go thereby fully unlocking the value of their expertise. There will also be O2O services aimed at patients that offer patients a better user experience.

Previously, DXY completed two rounds of investments from DCM and Shunwei China Internet Fund. Following this round of investment, DXY's founding management team will continue to have a majority stake in DXY and have a majority in its board of directors. David Feng, Vice President of DXY and Richard Peng, Vice President of Tencent, will become DXY's board members.

DXY is the world's largest online professional community of physicians, medical institutions, healthcare providers, and life science researchers. It was established in 2000 and currently has over 4 million registered members in China and other countries. DXY's mission is to facilitate communication, information sharing, and collaboration among medical professionals within all specialties of clinical medicine, basic medical research, life sciences, and pharmaceutical sciences.

Source: Yahoo