Fosun Co-Leads $16 Million Round in Yaoshibang, a Mobile Pharmacy App

Fosun Group co-led an $16 million Series B round in Yaoshibang, a Guangzhou-based mobile app that provides online pharmacy services. The fund was co-led by Green Pine Capital Partners of Shenzhen. Yaoshibang's mobile app allows individuals to order medicines directly from off-line pharmacies, with guaranteed next-day delivery in major cities. Currently, the two-year-old start-up operates in over 40 cities in  China , and has over 50,000 pharmacies signed onto the platform.  It plans to use the proceeds to build its platform and expand market share. Existing investors Co-Power Capital Management Co., Ltd. and Ivy Capital also participated in the round. More details.... Stock Symbol (HK:656) Share this with colleagues: // //