Yao123.com Nabs ¥30M to Expand Internet Medicine Retail Platform

On Apr 27, 2019，as a platform running company under Sinopharm Group, Yao123.com announced that it has raised 300 million yuan in a Series B round, led by GTJA Investment Group, with other joint investors including Yicun Capital, Galaxy Yuanhui Investment, Ample Harvest, and the company’s Series A round investors Yunfeng Capital and Langsheng Capital.

Yao123.com is a new Internet medicine retail platform affiliated to China national pharmaceutical corporation, and it is the carrier for Sinopharma to implement the retail transformation strategy.

Since its establishment four years ago, the company has built a 2C pharmaceutical supply chain system，and completed the layout of 42 cooperative warehouses in 20 provinces of China. At the same time, the smart pharmacy business has been distributed in 29 prefectures and cities in 19 provinces, carrying out the services of hospital-side dispensary and prescription outflow.

Yao123.com is positioned as an e-commerce sector within Sinopharma Group, which is an important retailer in the group's wholesale and retail integration transformation. The company focuses on the online operation and new offline retail collaboration. Relying on SinoPac's supply chain resources and national network layout, yao123.com’s operating revenue increased by 61% in 2018.

It is learned that after this round of financing, along with the trend of prescription outflow brought by policy dividend, Yao123.com will focus on the implementation of a new pharmaceutical retail platform connecting online and offline distribution, carrying a hundred billion yuan of the off-campus pharmaceutical market.

According to Wang Letian, CEO of Yao123.com, the vision of the company is to build the first new pharmaceutical retail platform in China: to extend pharmaceutical supply chain services in 200 cities in China by establishing the largest and most widely distributed urban pharmacy chain in China and to lay out the final kilometer.

Wang Dandan, the partner of the Gaotejia Investment Group, believes that Yao123.com has a unique positioning in the new pharmaceutical retail field. With the offline supply chain and the online economy model, it has a clear layout and diversified business under the background of China's new medical reform.

Galaxy Yuanhui Investment Co., Ltd. engages in the alternative investment business. The company operates as a subsidiary of China Galaxy Securities Co., Ltd.

Established in early 2010 and named after our co-founders Mr. Jack MA (Yun), Executive Chairman of Alibaba Group, and Mr. David YU (Feng), founder of Target Media, Yunfeng is a private equity firm started by a group of successful entrepreneurs and influential industry leaders. Yunfeng Capital currently manages a number of US Dollar Funds, RMB Funds, as well as Special Funds. Yunfeng Capital is headquartered in Shanghai, with offices in Hong Kong, Beijing, Hangzhou, and other cities of China.

Founded in 2010, Lang Sheng Investment Group Co., Ltd (LSI) is an A-B round focus fund targeting Healthcare and TMT (data-enable). LSI now manages four funds with total AUM of RMB 1.3 billion and it has captured unicorns such as Ankon and CapitalBio, out of 30 companies.