JD Health, the healthcare unit of Chinese ecommerce giant JD.com, has raised more than $830 million, the media reported.
JD Health has secured the funding from Hillhouse Capital in a non-redeemable Series B preference share financing, according to the company.
The deal is expected to be completed in the third quarter.
JD.com confirmed that it will remain the majority share holder in its health unit.
In a statement, JD.com said, “By leveraging Hillhouse Capital’s industry expertise and resources, JD Health will further strengthen its pharmacy supply chain capabilities and explore additional healthcare services opportunities in the broader healthcare sector.”
Last year, JD Health raised around $1 billion in its Series A funding round from its parent company JD.com.
JD Health is a multifunctional health platform that provides numerous services starting from a 30-minute pharmacy delivery, telemedicine service, consumer-related health services such as genetic testing through to solutions to digitise hospital systems.
Recently, JD Health’s telemedicine service saw a surge in business due to the COvid-19 pandemic.
According to its chief executive Xin Lijun, the company achieved profitability last year.
Last month, China-based biopharmaceutical company Antengene has secured around $97 million funding in its Series C funding round, the media reported.
Antengene is hematology and oncology-focused biopharmaceutical company with integrated drug discovery, clinical development, manufacturing and commercialisation anchored in the Asia Pacific regions and with a global layout.
The funding round for Antengene was led by Fidelity Management & Research Company. Other investors who also participated in the funding round include GL Ventures, GIC, Qiming Venture Partners, and Boyu Capital.