Weimai Funding, Investors & Competitors

Weimai has raised $257M across 4 funding rounds, most recently a $27M Series D in January 2025.

Last Weimai funding round

$27M

Series D · Jan 2025

Cumulative funding Weimai raised

$257M

across 4 funding rounds

Key investors in Weimai

  • Source Code Capital
  • Vision Plus Capital
  • Cenova
  • Matrix Partners China
  • IDG Capital
  • Baidu Capital
  • Yuhang state Investment
  • Nanhu Financial

Weimai Overview

About Weimai

Weimai is a developer of a health platform offering online appointment booking, medication distribution, maternal-child disease management, graded diagnosis, remote consultations, and electronic medical records. Accessible via myweimai.com, the service positions itself as a family doctor solution for households in China.


Founded

2013

HQ

ChinaHangzhou

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Weimai Funding History

Weimai has raised a total of $257M across 4 funding rounds.

Weimai's first fundraising round was a $30M Series B in September 2018. The most recent completed round was a $27M Series D in January 2025.

Weimai funding rounds

Weimai funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2025Series DYuhang state Investment; Cenova; Choice Capital; Deqing County Industrial Development Investment Fund; Vision Plus Capital; CNCB Capital; Nanhu Financial; Source Code Capital$27MWeimai, a Hangzhou-based Chinese provider of one-stop digital healthcare solutions, secured CNY200 million (USD27.3 million) in its Series D funding round on January 7, 2025, to expand services and leverage AI and digital tools for disease management and full-cycle medical care through its Managed Care Organization model. The round attracted new investors including CNCB Investment, Choice Capital, Yuhang Transformation Industry Investment, Deqing Industry Development Investment, and Nanhu Investment, with existing shareholders Source Code Capital, Cenova Ventures, and Vision+ Capital increasing their holdings. Proceeds will fund development of disease management solutions and adoption of artificial intelligence across pre-hospital, in-hospital, and post-hospital scenarios to meet demand for long-term care.
Dec 2020Series CBaidu Capital (lead); Matrix Partners China; IDG Capital; Cenova; Vision Plus Capital; Source Code Capital$100MWeimai, founded in September 2015, is a Chinese startup providing Internet-based healthcare solutions to hospitals and patients through a one-stop platform leveraging big data, AI, specialized disease management, and telemedicine tools. Its WeChat mini-program and mobile app enable users to book doctor appointments, settle medical expenses, access reports, consult doctors online, receive disease prevention advice, book door-to-door services, and purchase over-the-counter medicines. On December 14, 2020, Weimai raised $100 million in a Series C+ round led by Baidu Capital, with participation from existing investors including IDG Capital, Matrix Partners China, Source Code Capital, Vision Plus Capital, and Cenova Capital. This marked Baidu Capital's entry into the company and was Weimai's second $100 million round, following a Series C in June 2019 led by IDG Capital with the same co-investors except Baidu. Previously, Cenova Capital led a $30 million Series B in September 2018, and Source Code Capital participated in seed and Series A rounds. The funding supports Weimai's growth in digital healthcare services amid China's expanding online health sector.
Jun 2019Series CIDG Capital (lead); Matrix Partners China; Cenova; Vision Plus Capital; Source Code Capital$100MWeimai, a Chinese healthcare solutions provider founded in 2013, secured a $100 million funding round around June 2019 led by IDG Capital, with participation from investors including Cenova, Matrix Partners China, Source Code Capital, and Vision Plus Capital. This followed a Series B of $30 million in September 2018, marking it as the company's fifth financing round overall. The capital was intended to fuel expansion in China's burgeoning internet healthcare market, leveraging technology to support health services. The focus remained on growth in digital health solutions amid rising demand. Weimai operated in a competitive landscape of internet healthcare platforms in China during this period.
Sep 2018Series BCenova (lead); Matrix Partners China; Vision Plus Capital; Source Code Capital$30MWeimai is a Chinese startup founded in 2015 that provides one-stop Internet-based healthcare solutions to hospitals and patients, using big data, AI, specialized disease management, and tools like WeChat mini-programs and mobile apps for doctor appointments, medical expense settlements, report access, online consultations, disease prevention advice, door-to-door services, and medicine purchases. The company integrates local healthcare resources to digitalize services for citizens and hospitals, focusing on city-level expansion, government and state-owned hospital partnerships, and innovative healthcare operations. In September 2018, Weimai raised a $30 million Series B round led by Cenova Capital, with participation from Matrix Partners China, Source Code Capital, and Vision Plus Capital. This was the company's fourth funding round since inception, preceding a June 2019 Series C of $100 million led by IDG Capital with the same investors except IDG, and later a Series C+ of $100 million in 2020 led by Baidu Capital with continuing support from those investors, followed by a Series D of RMB 200 million ($27-28 million) in January 2025 with new and existing backers including CNCB Investment and others. Weimai has grown to connect over 2,500 public healthcare institutions and 200,000 licensed doctors by December 2024, serving a cumulative billion patients, with proprietary CareAI for health assessments, triage, and multi-format management launched in 2023, positioning it as China's largest digital full-cycle healthcare management platform. Funds from later rounds supported AI research, disease management, MCO models across care scenarios, and nationwide expansion.

Who has invested in Weimai?

11 investors have backed Weimai across its funding rounds, including Source Code Capital, Vision Plus Capital, Cenova, Matrix Partners China, IDG Capital and Baidu Capital.

Lead investors include Baidu Capital, IDG Capital and Cenova.


Weimai Investors

Investors in Weimai by funding rounds participated
InvestorHQRoundsRoleFirst check
CenovaChinaShanghai4LeadSep 2018
Vision Plus CapitalChinaHangzhou4ParticipantSep 2018
Source Code CapitalChinaChaoyang4ParticipantSep 2018
Matrix Partners ChinaChinaBeijing3ParticipantSep 2018
IDG CapitalChinaBeijing2LeadJun 2019
Yuhang state InvestmentChinaHangzhou1ParticipantJan 2025
Choice CapitalChinaHangzhou1ParticipantJan 2025
Baidu CapitalChinaChina1LeadDec 2020
Deqing County Industrial Development Investment FundChinaHuzhou1ParticipantJan 2025

This data is available for Pro users. Sign up to see all 11 Weimai investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Weimai Competitors

Weimai competitors include listed companies like Guiyang Longmaster and Medley Inc., and private ones like Doctolib, Cityblock Health, Grow Therapy and eMed.

Public and private companies comparable to Weimai
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
DoctolibFranceParisPrivate$400M-$6.4B16.0x
Cityblock HealthUnited StatesNew York City, NYPrivate--$5.7B-
Grow TherapyUnited StatesNew York City, NYPrivate$1B-$3B-
eMedUnited StatesMiami, FLPrivate--$2B-
Guiyang LongmasterChinaChinaPublicly listed$44M$5M$482M-
Medley Inc.JapanJapanPublicly listed$236M$32M$459M1.8x

Weimai Public Comps

Weimai is still privately-owned, but its public comps include IQVIA, Veeva, IDEXX Laboratories, Roper Technologies, GE HealthCare, ICON plc, Pro Medicus, United Imaging, Max Healthcare Institute and Oscar Health.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
IQVIA$16B$3.4B3.6x3.4x17.2x14.8x
Veeva$3.2B$965M11.1x10.2x36.9x22.4x
IDEXX Laboratories$4.3B$1.5B9.5x8.9x27.1x24.9x
Roper Technologies$7.9B$3.2B6.1x5.7x15.2x14.6x
GE HealthCare$21B$3.7B1.8x1.8x10.1x10.0x
ICON plc$8.3B$816M1.9x1.9x19.2x11.3x
Pro Medicus$186M$147M66.6x62.7x84.4x77.6x
United Imaging$2.1B$367M5.5x4.8x30.7x26.9x

This data is available for Pro users. Sign up to see all Weimai competitors and their valuation data.

Start Free Trial

Common questions about Weimai

When was Weimai founded?Weimai was founded in 2013.
Where is Weimai headquartered?Weimai is headquartered in Hangzhou, China.
Is Weimai publicly listed?No, Weimai is a private, VC-backed company.
How much funding has Weimai raised?Weimai has raised $257M across 4 funding rounds.
What was Weimai's last funding round?Weimai's last funding round was a $27M Series D in January 2025.
Who are Weimai's investors?Weimai's investors include Cenova, Vision Plus Capital, Source Code Capital, Matrix Partners China, IDG Capital, Yuhang state Investment, Choice Capital, Baidu Capital, Deqing County Industrial Development Investment Fund, CNCB Capital and 1 other.
Which companies are comparable to Weimai?Companies comparable to Weimai include Doctolib, Cityblock Health, Grow Therapy, eMed, Guiyang Longmaster and Medley Inc..

See companies similar to Weimai

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial