Scanadu raises $35 million in Series B, develops for China market

click to enlargeEric Topol’s Doctorless Patient takes one step closer to reality. The Scanadu ‘tricorder’ vital signs diagnostic ‘hockey puck’ received a major vote of confidence on Monday where it counts–funding. Their Series B of $35 million came from nine investors, led by Tencent Holdings, Fosun International and including Three Leaf Ventures, AME Cloud Ventures, Redmile Group, Relay Ventures, I Globe Partners, Fenox Venture Capital and CBC Capital. Three Leaf, AME and Relay also invested in their Series A. Tencent, Fosun and CBC are Chinese; I Globe is from Singapore. Why the Asian interest? It turns out that China is extremely interested and forward thinking in mobile healthcare–it has a lot of rural area to cover, all health-underserved, as is the rest of Asia. The introduction of the company was made by Jerry Wang, a Yahoo founder and former CEO.

Scanadu is also nearing market: Fortune reports that a $199 consumer version of the Scanadu Scout will be released in 2016, pending FDA approval, and in development is a urinalysis test, Scanadu Urine, an app that would analyze the color of a testing stick. Scanadu will also be developing products for China in parallel with US-marketed products; Urine will be trialled both in China (1,000 patients) and US (275). The rest of the article discusses how the mountain of data collected by devices like Scanadu will change drug trials, insurance and public health. The Wall Street Journal discusses consumer impact of Scanadu, along with their plans for nucleic acid and genetic testing. Guess they are not waiting for the outcome of the Qualcomm Tricorder XPRIZE competition [TTA 15 Apr]. Also CrunchBase.

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