Prescription Drugs M-commerce App 'Yiyao' Wins RMB 135 Mln Series A+
Shanghai Pharmaceuticals, 3/18/16
Shanghai-based Dajiankang Yunshang Holding, operator of prescription drugs B2C m-commerce app Yiyao, has completed RMB RMB 135 mln Series A+ funding from Shanghai-based Yuepu Investment Center and Shanghai Shengtai Investment Management, according to a statement from Dajiankang Yunshang's parent company Shanghai Pharmaceuticals Holding (601607.SH). Each investor contributed RMB 67.5 mln in cash for 4.55% stakes in Dajiankang Yunshang.
Dajiankang Yunshang, established in March 2015, had total assets of RMB 1.26 bln, total liabilities of RMB 661.99 mln, net assets of RMB 600.63 mln, operating income of RMB 2.48 bln, and net profits of RMB 8.47 mln, as of the end of 2015. Chinese B2C e-commerce platform JD.com's (Nasdaq: JD) stake in the company decreased to 11.36% from 12.50% following the Series A+ funding transaction.
Dajiankang Yunshang currently operates a prescription drugs B2C m-commerce mobile app called Yiyao. Users can access the app or the company's public account on Tencent's (0700.HK) WeChat mobile messaging platform to purchase prescription drugs. Users must upload a copy of their prescription prior to purchase and can complete their order after the prescription has been checked by platform staff. Dajiankang Yunshang has also established a store on JD.com's B2B prescription drug e-commerce platform "JD Pharmaceuticals" (JD Yiyao). Information from the JD Pharmaceuticals platform shows that the service is currently undergoing testing and has not yet started selling to consumers.
As reported previously, Dajiankang Yunshang completed RMB 1.112 bln Series A funding in August 2015 with participation from JD.com.
Editor's Note: For more information on this topic, please see "JD.com Invests in Pharmaceutical Company Dajiankang Yunshang,"MD 8/19/15 issue. China's mobile healthcare market, excluding sales of smart health devices, has grown from approximately RMB 1.5 bln in 2011 to RMB 4.5 bln in 2015, and is expected to reach roughly RMB 13.0 bln by 2017. To help investors and health industry enterprises identify opportunities among China's quickly growing number of mobile health and fitness apps, platforms, and smart hardware developers, Marbridge has researched and formulated the Chinese Mobile Health and Fitness Industry Matrix. The Q4 2015 edition of the Matrix provides details on approximately 115 leading mobile health and fitness app developers and almost 35 mobile health and fitness smart hardware developers. For more details on Marbridge's Q4 2015 Mobile Health and Fitness Industry Matrix, please click here.
Keywords: wireless m-commerce mobile healthcare online healthcare Pharmaceuticals Holding 601607.SH Yuepu Shengtai VC B2B e-commerce Internet B2C Series A Dajiankang Yunshang mobile application M&A
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