Chinese B2B pharmaceutical trading company Yaoshibang (YSbang, 药师帮）anounced today it has secured USD 133 million new financing from Tiger Global, H Capital, and DCM.
Yaoshibang. PHOTO: Credit to Yaoshibang
Chinese B2B pharmaceutical trading company Yaoshibang (YSbang, 药师帮）anounced today it has secured USD 133 million new financing from Tiger Global, H Capital, and DCM.
Yaoshibang founded by ZHANG Buzhen (张步镇) in January 2015. Besides the online website and App, the company also provides SaaS for connecting upstream drug suppliers and downstream drug terminals (pharmacies, clinics, health stations).
In June, Yaoshibang raised a series C round financing CNY 420 million led by Shunwei Capital Partners, DCM Ventures and SIG. At that time, ZHANG said his company serves more than 150 thousand active drug terminals, and has a GMV of more than CNY 500 million each month.
China is transferring its technology gold rush from consumer-driven to industrial driven, B2B ecommerce, as a sector of the industrial internet, has been attracted more than USD 5 billion financing in the past several years. Yaoshibang and other B2B ecommerce peers such as Zhaogang (找钢网), Meicai (美菜), Huitongda (汇通达), Yijiupi (易久批), Zhaoyou (找油网) and Baibu (百布) are outstanding representatives each secured a financing of more than USD 100 million.
In an emailed letter to his employees on December 16, ZHANG disclosed the new financing, which was closed last month, a sign that the company's performance was highly recognized by investors. Yaoshibang has finished the planned goal of CNY 10 million GMV in 2018, now the company is serving 200 thousand terminals and has more than 1 million orders each month, ZHANG added.