Tencent-linked investor backs China's AI drug startup Aifei Zhiyu
What's the deal? Aifei Zhiyu (Beijing) TechnologyDealroom has a profile for this one. Try Dealroom →, a Beijing-based AI drug research and development company, has added Shanghai Qishan Investment as a shareholder in an early-stage round, according to corporate registry QichachaDealroom has a profile for this one. Try Dealroom →. The company increased its registered capital to US$1.65M.
Why it matters: Shanghai Qishan Investment is a Tencent subsidiary, meaning the stake was made through a Tencent-linked investment vehicle. Aifei Zhiyu also added other new shareholders, though the source report did not name them.
One caveat: In China, registered capital reflects shareholder commitments. The increase should not be treated as the exact amount of new funding raised.
Why now? The move adds to Tencent's activity in AI drug discovery. It backed XtalPi in 2018 and runs the Tencent iDrug platform.
The signal: Tencent's latest bet underscores China's push to apply AI to drug development, a field where the tech giant has steadily built positions over the past several years.
Read more: techinasia.com
Image credit: oakridgelabnews
