AI Chronic Disease Management Platform DeepNaps Announces New Round of Funding in the Tens of Millions of Dollars, Existing Investor Source Code Capital Continues to Increase Stake

AI-powered chronic disease management platform DeepNaps (Synapsor) has recently completed a new funding round of tens of millions of dollars. The round was led by Xiaomi, with Shunwei Capital and Source Code Capital participating. The proceeds will be used for core product and algorithm R&D, production capacity expansion, and business development in overseas and China markets.

Previously, DeepNaps received tens of millions of RMB in angel funding from Source Code Capital. In this new round, Xiaomi and Shunwei Capital came in together, while existing investor Source Code Capital continued to increase its stake. By 2021, DeepNaps had cumulatively raised nearly 100 million RMB.

"AI + Healthcare" Targets the Trillion-Level Chronic Disease Market

According to statistics from the National Health Commission of the People's Republic of China, China has entered a period of high incidence of chronic diseases. The country currently has nearly 300 million chronic disease patients, with the number increasing by approximately 10 million annually. The Healthy China 2030 Planning Outline identifies reducing premature mortality from major chronic diseases as a key indicator, requiring the implementation of a comprehensive chronic disease prevention and control strategy to achieve full-population, full-lifecycle chronic disease health management by 2030.

Artificial intelligence and medical-grade wearable devices have enormous market potential and broad application scenarios in intelligent chronic disease management. According to an IDC report, China's wearable device market shipped nearly 110 million units in 2020, representing 7.5% year-over-year growth. Meanwhile, evidence-based AI's prospective early warning, risk assessment, alerts, proactive intervention, and personalized management recommendations for chronic diseases can help usher in a new era of proactive chronic disease management.

In the current wearable AI medical device market, American companies and their products dominate. While technologically advanced, these products are prohibitively expensive, making them unsustainable for ordinary Chinese consumers. DeepNaps pursues full in-house development from deep algorithms to hardware devices, aiming to leverage industry-leading algorithm technology and R&D advantages in sensors to mass-produce affordable wearable AI medical devices.

At the same time, based on data collected by its hardware, DeepNaps uses evidence-based AI to help patients with early warning during critical situations, effectively reducing the risk of sudden incidents in daily life. Smart terminals can aggregate and analyze monitoring data in the cloud, generate reports, and push them to patients' family members and doctors, facilitating more convenient communication among doctors, patients, and family members.

Assembling Top R&D Talent

Dr. Zhihua Wang, founder and CEO of DeepNaps, holds a Ph.D. in Computer Science from Oxford University and a Master's degree in Electronic Engineering from the University of Cambridge, with a highly specialized interdisciplinary academic background. He has published more than ten top-tier papers in electronics and AI. His doctoral supervisor at Oxford, Professor Andrew Markham, has also joined DeepNaps' R&D team as a core advisor.

Dr. Zhihua Wang stated: "The name DeepNaps (Synapsor) is a fusion of the English words 'synapse' and 'sensor,' also symbolizing DeepNaps' two core technical domains: neural networks and biosensors. We are committed to helping more doctors and patients with better, more cost-effective high-tech medical products, establishing normalized chronic disease management mechanisms, and in the future, we aim to serve 50% of China's chronic disease patients in health management."

To achieve this goal, although DeepNaps has been established for just over two years, it has rapidly assembled a high-caliber, comprehensive research team, gathering top master's and doctoral talent from Oxford University, University of Cambridge, University of California, Tsinghua University, and numerous other top-tier Chinese universities. Currently, R&D personnel account for more than 70% of the company, with master's and doctoral degree holders comprising over half.

Xingchen Zhang of Source Code Capital said: "In the near future, smart wearable devices will replace phones in scale, and the track that DeepNaps is deeply researching — combining wearable devices with artificial intelligence algorithms — is destined to become an industry hotspot. In the AI + healthcare field, China has consistently had a significant technology gap with European and American companies, and this gap is most directly reflected in the poor medical experience of Chinese chronic disease patients before, during, and after diagnosis, as well as the lack of continuous monitoring and risk warning outside hospitals leading to delayed treatment. The average life expectancy of Chinese chronic disease patients is at least 5 years shorter than that of overseas patients. This industry has a high technology moat. We chose DeepNaps precisely because we value the founding team's technical advantages in this track."

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