Sinopharm Online, operator of online and mobile B2C pharmaceuticals e-commerce platform Yao123.com, has completed RMB 120 mln in Series A funding from Yunfeng Capital and Langsheng Investment, according to an announcement from Sinopharm Online parent China National Pharmaceutical Group.
According to Sinopharm Online CEO Wang Letian, this round of funding will be used for offline sales and distribution resource integration, including the establishment of pharmacies in various locations across China.
Sinopharm Online was founded by China National Pharmaceutical Group in June 2015, and is positioned as a healthcare products and pharmaceuticals e-commerce platform focused primarily on B2C sales.
According to Wang Letian, Sinopharm Online's transaction volume has reached RMB 600 mln over the past 12 months.
Editor's Note: Yunfeng Capital is the private equity company co-founded by Alibaba Group (NYSE: BABA) founder Jack Ma.