Digital Health Platform Menxlab Secures Series A Funding Exceeding RMB 100 Million and Files for IPO

VCBeat (WeChat ID: vcbeat) has learned that the digital health management platform “Menxlab” has completed its Series A financing round, led by China Growth Capital, with participation from existing investors including SIG and Gaorong Ventures. Inspire Capital continued to serve as the exclusive financial advisor for this round. The funds raised will be primarily used for product research and development, brand building, and accelerating the construction of the digital health platform.

Since the beginning of this year,Menxlab has completed three rounds of financing, with a cumulative amount exceeding RMB 100 million. Investors include Gaorong VenturesGaorong Ventures,SIG (Susquehanna International Group), China Growth Capital, Weiyi Capital (formerly Weiying Capital), GF Xinde, etc.

Menxlab is a digital health management brand that provides consumer-grade comprehensive medical solutions to address the personal health management needs of the urban new middle class aged 25–40.

Abroad, the online digital health industry has spawned multiple unicorn companies with valuations exceeding $1 billion, such as Hims and Roman, with Hims having already filed for an initial public offering. As a leading domestic digital health management brand, Menxlab is committed to becoming China’s premier consumer-grade medical and healthcare platform. To this end, Menxlab entered the market through a vertical niche, adopted a consumer-centric approach, rapidly built a foundational user base, and initially established a consumer-grade medical ecosystem by enhancing capabilities in online consultation and prescription dispensing.

According to data from the national statistical authorities, ChinaYes70% of the population is in a state of sub-health, with middle-aged and young adults accounting for the largest proportion; most of these individuals hold high-paying positions in sectors such as the internet, finance, and corporate executive management., Health“Strong sense of ‘crisis,’ high spending power.”

MenxlabIt was found that, among the sub-health population,“Hair loss” has become one of the most concerning issues.According to the National Health CommissionSurvey data on hair loss released in 2019 shows that the number of people with hair loss in China has exceeded 250 million, with an average of one in every six individuals affected. Among this population, those aged 20 to 40 account for a significant proportion. Within this age group, men are the primary demographic affected by hair loss. According to relevant research data, nearly one-quarter of men begin to experience hair loss at age 21, and 66% of men will encounter hair loss by age 35.

Therefore, Menxlabwith“Anti-Hair Loss” as the Entry Point: Centered on Scalp Health Management, Providing “Preventive Care + Scientific Treatment”product portfolio. Meanwhile, Menxlab has entered the consumer-grade medical products market with hair loss prevention and regrowth care products, offering a product line that spans personal care, oral medications, nutritional supplements, and auxiliary medical devices to address health concerns such as hair loss prevention and regrowth, general wellness, and skincare for high-net-worth male consumers.

Menxlab's personal care products since this yearSince its official launch in May, its personal care brand “Shiguang Li”Monthly sales exceeded through omnichannel expansion and development110 million yuan. Notably, MenxlabBuild user awareness with high-frequency personal care products, throughThe DTC model engages users directly, rapidly acquiring precise traffic and funneling them into private-domain channels for in-depth engagement.

Users who complete the scalp health quiz on the official mini-program can obtain a personal health data report. The Menxlab platform will recommend the most suitable product combination based on the report. And forUsers with further healthcare needs,Menxlab collaborates with internet hospitals,Provide1-on-1 health consultation services, enabling a complete online workflow of doctor consultations, prescription issuance, and medication dispensing.

(Menxlab Online Consultation Process)

As a result, Menxlab has achieved a comprehensive layout of the full-chain functions of an internet hospital, including traffic entry points, data collection, online consultations, and prescription-based medication purchases.

Regarding the three rounds of financing secured within a year, Menxlab attributes this to three factors.

First, Menxlab is in a hot sector and attracts high investor attention.According to data from the national statistical department, inIn 2019, among all categories of per capita consumer spending by Chinese residents, healthcare expenditure recorded the highest year-on-year growth rate, indicating that residents are placing increasing emphasis on health.During the pandemic, the state vigorously promotedWith the development of “Internet + Healthcare,” the pace of informatization infrastructure construction in the fields of medical care, pharmaceuticals, and health insurance has accelerated, signaling the arrival of the era of health datafication in China’s pharmaceutical industry. Menxlab added, “The impact of the pandemic this year has rapidly heightened public health awareness and increased willingness to pay for health products. In the future, Menxlabwill have a smoother development path and greater opportunities.”

Secondly, Menxlab’s team possesses both internet and pharmaceutical DNA, with its developed products and established platforms demonstrating its distinctive and exceptional strength. MenxlabRelevant officials stated:“Our team originated from the internet sector, and later expanded to include professionals from the pharmaceutical industry, such as senior executives from companies like Health 160 and Ping An Good Doctor. The achievements of our team have been recognized by investors, which has facilitated the company’s fundraising efforts.”

Finally, in overseas markets, similar companies such as Hims and Roman have grown rapidly, evolving into unicorns with valuations exceeding $1 billion, and Hims has already completed its IPO application. “Compared to the international market, Menxlab has significant growth opportunities and the potential to becomeChina's largest consumer-grade medical and health platform, which is also what investors expect from us.”

Investors endorsed this view. An investor from China Growth Capital stated：“Menxlab is a long-termism project, based on ‘Internet“During the bonus period of ‘medical and healthcare’ development, we seized new opportunities arising from the restructuring of the pharmaceutical industry landscape and rapidly established barriers for medical products and services. Menxlab has the capability to become a leading domestic professional platform for consumer-grade healthcare.”

MenxlabA relevant official stated:“This round of financing will be primarily allocated to product R&D and brand building.“Menxlab will accelerate the development of its digital health platform.”

Specifically, in terms of product lines, its hair care brand “Shiguang Li” focuses on anti-hair loss products, targeting individuals experiencing hair loss due to short-term hormonal imbalances caused by anxiety, insomnia, or postpartum conditions, while continuing to explore scientific formula combinations for non-pathological hair loss.

MenxlabIntroduction:“From the personal care brand ‘Shiguangli’Start,MenxlabAdhering to TechnologyMenxlab’s product philosophy emphasizes strict control over formula ingredients from the source, building a rich repository of patented technologies. For instance, Menxlab has incorporated minoxidil, an anti-hair loss ingredient, and nano-targeted carrier delivery technology into its “Time Series” hair care products. The Menxlab team collaborates with Huazhong University of Science and Technology and the Dermatology Laboratory at the University of Pennsylvania to explore new technologies for scalp care, hair loss prevention, and hair growth, integrating cutting-edge science and effective ingredients into their products.

As for the Menxlab brand, it will focus on men’s high-quality healthy living, addressing the key pain points in men’s health,Offering a product portfolio encompassing personal care, grooming, pharmaceuticals, nutritional supplements, and medical devices. In terms of pharmaceutical products,Menxlab has partnered with leading domestic pharmaceutical and health supplement manufacturers to establish a comprehensive portfolio of medical and healthcare products, encompassing hair loss prevention medications, health supplements, nutritional supplements, and oral beauty foods. At the core of its hair loss prevention offerings is the key medication “Minoxidil”in product collaboration,MenxlabObtained in ChinaExclusive partnership with an OTC-qualified pharmaceutical manufacturer to jointly explore new opportunities in online drug sales within digital health.

(Menxlab Oral Health Series Products)

MenxlabA relevant official stated:“We will accelerate the establishment of a consumer-grade medical product ecosystem to provide higher-quality services to more users.”