China-based online pharmacy and education platform Yaoshibang has closed a RMB420m ($65.7m) series C round featuring technology and quantitative trading firm Susquehanna International Group (SIG), China Money Network reported yesterday.
The round was raised over two tranches, with Shunwei Capital leading a series C1 that included Green Pine Capital Partners and Elevation China Capital. SIG took part in the series C2 round that was led by DCM Ventures.
Founded in 2015, Yaoshibang operates a business-to-business pharmaceutical trading platform with its offering also including a database of diseases and drugs, education and career services.
The company reportedly has more than 150,000 active users and a monthly gross merchandise volume of $78m.
The series C funding will go towards expansion efforts across China, improving the supply chain and updating its platform.
Conglomerate Fosun and Green Pine Capital Partners.co-led a $16m series B round in 2016. Details about Yaoshibang’s series A round have not emerged.