Sequoia Capital China led a $232m Series F funding round in Yuanxin Technology.

Sequoia Capital China, a venture capital firm, led a $232m Series F funding round in Yuanxin Technology, an internet technology company. Additional investors include Qiming Venture Partners, B Capital Group, Hel Ved Capital Management, Orbimed, United Overseas Bank, E Fund Management, Ab Initio Capital, Bank of China, INCE Capital, CITIC Securities, Kunling Capital and Index Capital. The new financing comes as Yuanxin is weighing a Hong Kong IPO that could raise at least $500m. Yuanxin Technology uses internet technology to create an intelligent system that connects doctors, patients, medicines, and insurance. The specialist is currently making efforts to accelerate its digital medical insurance mechanism by bridging brick-and-mortal hospitals and internet insurances.