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Miguel Cordon · · 1 min readPet care firm New Ruipeng bags 9-digit amount in Tencent-led round
Country Garden Venture Capital, the investment vehicle of property development firm Country Garden, and global pharmaceutical major Boehringer Ingelheim participated in the round as strategic investors, alongside other backers like Snow Lake Capital, OrbiMed, Aspex Management, and Lake Bleu Capital.
The new round brings New Ruipeng’s valuation to roughly 30 billion yuan (US$4.4 billion), according to a statement.
The Shenzhen-based company said it plans to use the new capital to help facilitate its primary care networks, improve its medical system, and strengthen its smart retail ecosystem through WeChat. New Ruipeng also looks to “integrate the sectors of supply chain, education, information, internet, diagnosis, and cultural media” into its services, said CEO and co-president Yonghe Peng.
Founded in 2013, the company offers pet care and medical services, as well as pet food, beauty solutions, and other related products.
Editing by Jaclyn Teng
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