What happened: Chinese online healthcare company Medlinker has raised an RMB 1 billion ($147 million) D round led by China’s sovereign wealth fund China Investment Corp and followed by returning investors like Sequoia Capital and China Renaissance. The new funding valued the four-year-old company at more than $ 1 billion, raising it to unicorn status.
Why it’s important: China’s existing health care system is under huge strain due to the under-usage of primary care services. As technology is penetrating nearly every aspect of people lives, more tech startups are poised to solve the problems in China’s chaotic medical and healthcare system. Several companies that are pushing this trend include Chunyu Doctor, DXY, and iHealthcare.