China-based veterinary services provider Pet Doctor has received RMB130m ($18.2m) in funding from Yuyuan Investment, a family consumer-focused investment vehicle for diversified conglomerate Fosun International.
Founded in 2015 and known as Aichongyisheng in Chinese, Pet Doctor provides online services to vets and pet stores in more than 300 Chinese cities.
Services offered by the company include the ability to hold online medical consultations, a digital vet training facility and a marketplace where pet health products can be procured from other businesses.
Pet Doctor has so far served more than 13,000 vet hospitals and 17,000 pet stores, and will use the funding to focus on its branding, sales and expansion strategies.
Angel fund Probing VC led an eight-digit renminbi (RMB10m = $1.5m) series A round for Pet Doctor in June 2017 that was backed by CICC Capital, an investment subsidiary of financial services firm China International Capital Corporation.
Venture capital firm Puhua Capital had reportedly led a pre-series A round of undisclosed size for the company the previous year with participation from angel investor Ding Yi, after a seven-figure renminbi angel round in 2015 featuring unnamed investors.
– Image courtesy of Fosun International.