Beijing-based LyncMed Medical Technology, operator of B2B medical supplies cross-border e-commerce platform LyncMed, has completed RMB 8-digit Series A funding from Galaxy Capital and angel investor Wang Gang, with participation from existing shareholders as well.
LyncMed is a self-operated B2B medical supplies export platform which integrates domestic suppliers of medical supplies and overseas channels. Its main products include operating room supplies, dental supplies, and nursing supplies.
LyncMed will also select OEM products with long-term value or strategic significance and sell them itself to build up its own brand. Sales of this type of product currently account for approximately 30% of the platform's total sales volume.
LyncMed currently has 110 Chinese medical supplies manufacturers on its platform and 15,000 SKUs. The platform has 600 overseas customers, and repeat buying rates have reached around 70%. Current markets are mainly concentrated in Europe and the Middle East. Aside from establishing warehouses with domestic manufacturers, LyncMed has also established warehouses in Italy and Spain. In the future, LyncMed will also enter the supply chain finance business.
Previously, LyncMed reportedly received RMB 7-digit angel funding from investment institutions such as ZhenFund, Dong Chen Investment, and Beijing Mingshi Hexun Capital Management.