Tencent pumps $70m into China healthcare networking site

The company previously received $10 million from Beijing Shunwei Venture Capital and DCM China in 2012. It also raised $2 million from DCM China in 2010.

Founded in 2000, dxy maintains an online medical database and information platform intended to encourage communication, information sharing and collaboration between medical professionals. It has 1.8 million average daily page views and more than 4 million registered users.

According to a release, the new capital will be used to expand the company's services. Tencent and dxy.com will also work together to develop medical-related mobile apps and internet-based products.

Liu Ciping, Tecent's CEO, suggested that Tecent could connect its broad customer base to medical professionals and information through the dxy paltform. The idea is to create a reliable source of information for the public.

Online healthcare services are popular among VC investors. Last month, Spring Rain Software, a Chinese mobile healthcare app developer, raised $50 million in Series C funding from China International Capital Corp, Rushan Investment Management and Temasek Holdings' Pavilion Capital.

Other transactions include Lightspeed China Partners $1 million commitment to Kanchufang, an online healthcare information operator, in April, and Shanghai International Group Venture Capital (SIGVC) providing a RMB300 million ($48 million) Series A round for online drug store J1.com.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Venture
• Healthcare
• Technology
• Greater China
• Early-stage
• China
• healthcare
• TMT
• Tencent