China-based veterinary care services provider New Ruipeng Pet Healthcare Group has received hundreds of millions of dollars in a funding round led by internet company Tencent, DealStreetAsia reported today.
Pharmaceutical firm Boehringer Ingelheim and Country Garden Venture Capital, the investment arm for real estate developer Country Garden, also took part in the round, as did Snow Lake Capital, OrbiMed, Aspex Management and Lake Blue Capital.
Founded in 2013, New Ruipeng operates more than 1,400 veterinary clinics and hospitals, and markets pet foods and beauty products.
The money will allow the company to bolster its offering, with a focus on primary care, and improve its retail ecosystem on WeChat.
New Ruipeng previously received an undisclosed amount from CICC Capital, Riverhead Capital Investment Management and Chongyisheng in August this year, before Hillhouse Capital made a strategic investment later the same month.
Its early backers reportedly include Everbright Securities, Industrial Securities, Fortune Capital, Orient Securities, Northeast Securities and TFTR Investment.
