Xiyou Health Scoops up $10 Million in a New Funding Round

(VCBeat) Apr. 16, 2021 -- Beijing-based Xiyou Health, which is committed to the development of new retail in medical and healthcare, announced that it has secured tens of millions of dollars from Redpiont China Ventures and Matrix Partners China. This financing follows another round of Xiyou Health in July 2020.The funds are earmarked for Xiyou Health's medical device mode layout of "DTP+DTC" and the construction of Internet hospital combining device usage scenarios. 

Founded in 2019, Xiyou Health is a medical device retailer committed to promoting the performance of physical pharmacies and creating new retail scenarios. The company is supported by two dividends of growth in the medical device industry and the separation of pharmaceutical business and medical services. Xiyou Health brings together the talents in the domestic pharmaceutical retail and medical device fields.

In less than two years, Xiyou Health has formed an innovative DTC and DTP dual-line development model, with business covering third-grade hospitals and hospital-side pharmacies in many provinces and cities in China. Its partners include a large number of leading pharmaceutical retailers and well-known medical device companies at home and abroad. According to the post-investment plan of Xiyou Health, the number of physical pharmaceutical retail stores in cooperation with Xiyou Health in 2021 will exceed 1,000.

Redpoint focuses on early-stage TMT startups in consumer internet and enterprise IT services. Consumer internet includes consumer services, transaction platforms, social networking, video entertainment and digital advertisement. Enterprise IT services include big data, cloud, SaaS, information security, artificial intelligence, etc. Redpoint has invested over 60 domestic consumer internet and enterprise IT companies.

Matrix Partners China builds long-term relationships with entrepreneurs and helps them build significant industry-leading companies. Since its inception in 1977, Matrix Partners China has made hundreds of investments and played an active role in the development of many successful businesses, 50 of which went on to IPO, and 75 of which have gone on to profitable M&A events. Its past successes include Focus Media, Eachnet, and Baidu, among others. The company invests across multiple sectors and stages.