SoftBank and Shanghai Charity Foundation invested $21m in Shanghai Pharmaceutical Big Health Yunshang, formed by Shanghai Pharmaceuticals.
The online pharmacy spinout of China-based pharmaceuticals manufacturer and distributor Shanghai Pharmaceuticals has raised RMB125m ($21m) from backers including telecoms and internet group SoftBank, China Money Network reported on Monday.
SoftBank, which invested through its local corporate venturing fund, Softbank China Venture Capital, was joined by a fund controlled by Shanghai Charity Foundation, according to a securities filing.
The investors each provided half the funding, taking a 4.5% stake in the unit, Shanghai Pharmaceutical Big Health Yunshang, in the process.
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