Established in the US in 2013, Shanghai-headquartered QTC Care, a healthcare platform that uses AI to streamline treatment recovery and disease prevention, announced that it has raised $7M in series A funding. The investment was led by a Chinese internet giant, Tencent, followed by several other top investors in China. Just last week, Tencent-backed Trusted Doctor said that it had raised $250M in a fundraising round.
The $7M funding will mainly be used for the development of Digital Therapeutics (DTx) and building medical network to service insurance companies. QTC Care has branches in the US, Japan, China, Singapore and Europe.
What it does
Two types of Digital Therapeutics (DTx) have been launched at QTC Care so far. Firstly, the “Micha initiative-weight-loss DTx”, which is based on scientific weight-loss concepts, has successfully helped participants to lose 4kg of weight on average within 3 weeks, an equivalent of 54% less risk in chronic and major diseases through online behavioural intervention.
Another DTx named “kapok” can potentially help cancer patients to improve their life quality, reduce total medical costs, and number of visits to ER through similar behavioural intervention.
The company has also developed out-of-hospital patient health management platforms. For example, combining the platforms for lung cancer patients and breast cancer patients, QTC Care claims to have “tens of thousands” of users with 87.1% feeling that they “better understood their treatment plans”. Another ongoing project is the cancer patients' family members’ assistance and care project, which provides guidance to family members for the care of cancer patients.
On the record
“Traditional health and disease management is usually half-baked due to the lack of effective incentive mechanism and human-based management. Our solution -- Digital Therapeutics (DTx), and other health management services, uses a combination of artificial intelligence and social interaction, a huge step towards helping treatment recovery, chronic disease management, and disease prevention. We are grateful for our investor and partners in supporting our work,” said Lu Yi, CEO of QTC Care in a statement.