The online pharmacy spinout of China-based pharmaceuticals manufacturer and distributor Shanghai Pharmaceuticals has raised RMB125m ($21m) from backers including telecoms and internet group SoftBank, China Money Network reported on Monday.
SoftBank, which invested through its local corporate venturing fund, Softbank China Venture Capital, was joined by a fund controlled by Shanghai Charity Foundation, according to a securities filing.
The investors each provided half the funding, taking a 4.5% stake in the unit, Shanghai Pharmaceutical Big Health Yunshang, in the process.
Big Health Yunshang was founded in March 2015, and consists of an online platform which can be used by doctors to prescribe treatments, and by patients to purchase pharmaceutical products and make medical appointments.
Shanghai Pharmaceuticals invested $141m in 2015 to take a 75% stake that has been diluted to under 73% in the latest round.
E-commerce company JD.com supplied $23m in funding and services in August 2015 for a 12.5% share, and IDG Capital Partners, a venture capital affiliate of media firm International Data Group, paid $9.4m for a 5% stake.