Baidu puts $200 Million into Smart City and Medical IoT
September 19, 2019
Chinese internet giant Baidu is investing 1.4 billion yuan (US $200 million) in a partnership with investment house Neusoft to develop new smart city and health IoT based technologies and programmes.
Neusoft is a venture capital firm that specialises in investing in IoT and internet-based technologies and programmes.
The company owns China's first listed software company, Neusoft Co, and also a telemedicine, medical IoT and remote medical imaging company, Neusoft Medical Systems. Earlier this year, Baidu made significant investments in both Neusoft subsidiaries.
Baidu's chief technology officer Wang Haifeng will join Neusoft as a board member.