China-based online medical portal Dxy.cn has received a $70m strategic investment from internet firm Tencent, in return for a minority stake.
Dxy is an online healthcare community with over four millions users. The platform is made up of forums, online recruiting and medical professional blogging.
Following the deal Dxy’s services will be integrated into Tencent’s mobile chat apps WeChat and QQ Mobile.
Dxy will also begin to focus on consumer healthcare with the funding also enabling a platform to be created for doctors and pharmaceutical companies to communicate and exchange ideas.
Tencent President, Martin Lau, said, “Tencent has paid very close attention to the healthcare sector. Dxy.cn is the biggest information source for Chinese medical professionals. Tencent can connect them with tens of millions of Internet users.”
Dxy raised an “eight-digit USD” series B round in 2012 led by internet fund Shunwei Investment, and featuring venture capital fund Doll Capital Management, which were also participants in Dxy’s series A round.