Weiming Penguin Secures Tens of Millions in Series A Funding as B2B Pharma Trading Platforms Gain Momentum

In the early hours of February 19, Unnamed Penguin promptly disclosed to VCBeat (WeChat ID: vcbeat) that it had completed its Series A financing round, raising tens of millions of yuan. The round was led by Evergreen Fund Chengwei Capital, with participation from Matrix Partners China, Chuanghehui, and other institutions.

Becoming Capital is a partnership-structured investment fund. The evergreen funds it manages boast substantial capital and perpetual duration, enabling Becoming to make very long-term investments and continuously support the long-term development of enterprises.

It is reported that Unnamed Penguin is a B2B third-party trading platform company in the broader health sector, covering pharmaceuticals, medical devices, and health supplements. Targeting a trillion-yuan market, it aims to provide pharmaceutical manufacturers and commercial distributors with direct online channels to end-users, while offering pharmacies, clinics, and hospitals a wider variety of products and specifications at lower procurement prices.

The company was founded by Zou Xiaoliang, former Deputy General Manager of Tencent's Media Products and Business Operations.The core members of the founding partner team all previously worked at Tencent、Worked at Alibaba for many years，Boasts a history of long-term collaboration, complemented by the involvement of seasoned professionals from the pharmaceutical industry.

Unnamed Penguin at2016In the first half of the year, it acquired full ownership of a company withAMinsheng Pharmaceutical Network, which holds the relevant qualifications, has entered into a deep strategic cooperation with Jointown Pharmaceutical Group, and the platform was officially launched in September. This year1Completed in the monthABefore the round of financing,Unnamed Penguin has completed its key strategic layout in the Yangtze River Delta region, covering Hangzhou and Ningbo., Wenzhou, Xianju, and more than a dozen other cities, with tens of thousands of online pharmacies; in the five months since its launch, eachMonthly transaction volume remains stable100%The above growth.

Unnamed Penguin Beijing Team

Unnamed Penguin stated that this round of financing will be primarily used to continue increasing investment in technology and products, leveraging the company’s robust strengths in internet products and technology to further enhance its service capabilities. Data-driven operations, algorithmic expertise, and product evolution form the cornerstone of Unnamed Penguin’s business model, enabling cost-effective and efficient customer interactions on its platform while precisely meeting the personalized needs of each client. Meanwhile, the company will further advance its city-level expansion, with plans to extend its business operations to 100 cities by 2017, thereby building an efficient online marketing network that serves upstream pharmaceutical manufacturers and commercial distributors, as well as downstream end customers. Unnamed Penguin looks forward to continuing strategic collaborations with relevant enterprises in the pharmaceutical distribution sector.

Previously, Unnamed Penguin completed an angel financing round worth tens of millions of yuan in February 2016, led by Matrix Partners China. Just four months after its launch, the company secured Series A financing led by Chengwei Capital. Within less than a year of its establishment, it had completed two rounds of financing, indicating that the B2B third-party trading platform model in the pharmaceutical industry is gaining momentum. Meanwhile, at the level of pharmaceutical distribution reform, macro-industrial policies are also showing significant favorable trends.

Following the launch of the Healthy China Strategy under the national 13th Five-Year Plan, a series of reform measures in healthcare and pharmaceutical distribution have been frequently introduced. Recently, the “Several Opinions of the General Office of the State Council on Further Reforming and Improving Policies for Drug Production, Circulation, and Use” explicitly proposed advancing “Internet Plus Pharmaceutical Distribution,” promoting the widespread application of technologies such as mobile internet and the Internet of Things (IoT) in the pharmaceutical distribution sector, encouraging enterprises to carry out service innovations based on the internet, guiding the standardized development of “Internet Plus Pharmaceutical Distribution,” and supporting strengthened cooperation between pharmaceutical distribution enterprises and internet companies to advance the integrated development of online and offline channels.

Zou Xiaoliang, founder of Unnamed Penguin, stated that the pharmaceutical industry is a perennial sunrise sector and expressed strong optimism about the “Internet + Healthcare” domain.The company will continue to uphold a deep respect for the industry, driven by its mission to connect health. We envision optimistically, plan prudently, and execute joyfully. By focusing on customer needs and platform value, we are committed to delivering high-quality products and services. Simultaneously, we prioritize employee development, leveraging the founding team’s extensive experience in the internet sector and professional expertise in the pharmaceutical industry to continuously explore and innovate, enabling our team to grow alongside the company.

Chengwei Capital Partner Kang Pei stated that the healthcare sector is a rapidly growing industry with a market size in the trillions. Positive transformations are underway in the pharmaceutical distribution sector, and the “Internet + Healthcare” model holds immense potential, which has been a key focus and investment priority for Chengwei Capital.The Unnamed Penguin team is professional, positive, diligent, and passionate about its career. The founding team members are talents from Tencent and Alibaba, with extensive experience in large-platform operations and significant advantages in internet product development, technology, and operations. The Unnamed Penguin team has demonstrated strong strategic planning and execution capabilities in platform planning, rapid launch and iteration, and business promotion. VCBeat is pleased to be a partner on Unnamed Penguin’s entrepreneurial journey and will support the long-term development of Unnamed Penguin’s business.