Pencil News, 2/27/18
Guangzhou-based Micheng Technology, operator of medical cosmetology consultation platform Micheng, recently announced completion of RMB 8-digit strategic funding from Guangzhou-based Huoshan Capital Management. Funds will mainly be used to apply blockchain technologies in the beauty industry domain.
Micheng was established in June 2015 and operates as a third-party platform for cosmetic medical services consumption. The platform invites cosmetic medicine experts to join and develop custom medical treatment plans for consumers. The platform recommends appropriate medical institutions that can perform the suggested procedures, contacts institutions on behalf of customers, and offers pre- and post-procedure services. Micheng also offers cosmetic plastic surgery information and healthcare knowledge.
Micheng also plans to create a traceability system for users' medical records and medical materials. Users will able to take control of their own records and information using blockchain technologies, so that neither the Micheng platform nor medical institutions will be able to use or copy patient data without authorization.
Micheng currently has a combination of in-house and third-party cosmetic medicine experts, including more than 60 direct employees and more than 1,000 third-party consultants. Most partnering cosmetic medicine institutions are located in Guangzhou and Shenzhen. The company's business model is based on service fees collected from cosmetic medicine institutions.
The Micheng platform is still undergoing beta testing and expects to launch in March 2018. The company also plans to expand its team of experts to reach 10,000 consultants by the end of the year.
Micheng previously completed RMB 30 mln in angel funding from Chen Zhe, chairman of Hong Kong-based Asia Pacific Beauty Group, in January 2018.