Medbanks Raises $30 Million For China Oncology Database

Medbanks Network Technology of Beijing, a company building a China oncology database, raised $30 million in a B round led by Tencent. Established in 2014, Medbanks is developing a multi-center database that will manage and mine data that reflects China's unique patient population. It already covers the most prevalent China tumor types. The company said it will use the new capital to expand its clinical network and the database itself. Existing investors Eight Roads Ventures China, F-Prime Capital Partners and Ping An Ventures also participated in the round.