Aramco’s Prosperity7 Ventures announced on Thursday the investment in Chinese medtech startup Cispoly, a maker of gynaecological tumour detection devices.
The Saudi oil giant’s subsidiary led a series of investment and raised more than 100 million yuan ($14 million), with participation from existing shareholder Sunland Fund.
Cispoly is a high-tech enterprise dedicated to women’s health.
It has developed a number of products specialising in the early diagnosis of cervical cancer, ovarian cancer, endometrial cancer, along with other gynaecological tumours.
The company is planning to use the investment to expand worldwide as well as support research and development initiatives.
It will also use the new capital to facilitate product registrations.
Prosperity7 is seeking to support startups across the globe, which focus on the development of next-generation technology and business models with wider positive impact.
