China's Jianke raises $130m Series B

Other participants included HBM Healthcare Investments and Crescent Point. The capital will be used to advance the company's existing operations in B2C pharmacy services targeting underserved regions of China.

Founded in 2006, Jianke describes itself as the leading company in its field in China in terms of brand recognition, user numbers, product and service offerings, and online traffic. The company claims to have served more than 100 million customers with a repeat purchase rate of more than 50%.

Jianke became the first licensed online pharmacy in Guangdong in 2009 and now holds a full set of B2B and B2C pharmaceutical distribution licenses. It has previously established strategic partnerships with biopharmaceuticals company Gilead Sciences and medical devices and pharmaceuticals maker Abbott.

The latest round reportedly values the company at $500-600 million. According to AVCJ Research, Jianke raised a $50 million round last year from PGA Ventures, Volcanics Venture, and Asia-Pac E-Commerce Opportunities. In 2016, Crescent Point invested about $100 million.

"As a clear industry leader, Jianke's platforms and disruptive business model are changing the way people access efficient and professional health services and products online," Wang Hai Jiao, a partner at GTJA, said in a statement. "The company is well-positioned for continued rapid growth, which will continue to put Jianke well ahead of its peers."

GTJA was founded in Shenzhen in 2001 to make healthcare industry investments across the angel, venture capital, private equity, and M&A stages. The firm claims to have the largest healthcare investment team in China and assets under management of RMB20 billion ($2.9 billion). It has raised 24 healthcare funds to date and invested more than 130 companies.

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

• Topics
• Greater China
• Healthcare
• Consumer
• Early-stage
• China
• Crescent Point
• Pharmaceuticals
• TMT
• Venture