Tenez Secures Tens of Millions in Angel Funding to Revolutionize B2B Pharmaceutical E-Commerce

It is reported that Weiming Penguin (Beijing) Technology Co., Ltd. (hereinafter referred to as “Weiming Penguin”) recently secured tens of millions of yuan in angel-round financing, led by Matrix Partners China. This injection of tens of millions of yuan in capital will accelerate the development of Weiming Penguin.

It is understood that Weiming Penguin entered the “Internet+” sector through third-party pharmaceutical trading platforms.Startups in the Greater Health Sector.Regarding the rationale for adopting a model that begins with third-party trading platforms, founder Zou Xiaoliang cited two primary considerations.

First, the broader health and wellness sector represents a vast market. Data indicates that since 2014, on the basis of a total transaction volume of RMB 3 trillion, the market has maintained a compound annual growth rate (CAGR) of 18%. Even after excluding the prescription drug segment, valued at RMB 800–90 billion, the market size is still projected to exceed RMB 3 trillion by 2016, underscoring its substantial scale and promising prospects. Targeting this RMB 3-trillion health and wellness market, Weiming Penguin will serve 450,000 pharmacies, over 900,000 clinics and hospitals, more than 10,000 pharmaceutical commercial enterprises, and over 5,000 pharmaceutical manufacturers across China. It aims to help pharmaceutical manufacturers and commercial enterprises expand their online sales channels, reduce transaction costs, and improve transaction efficiency, while providing pharmacies and clinics with a wider variety of products and specifications, as well as lower procurement prices.

Secondly, third-party trading platforms related to internet healthcare have moderate barriers to entry. Currently, there are only 25 enterprises with national-level qualifications. Among these 25 companies, none adopt the same business model as the Weiming Penguin team, except for Weiming Penguin itself. Zou Xiaoliang stated, “In this landscape, Weiming Penguin will leverage its advantages rooted in internet DNA and achieve significant breakthroughs in the pharmaceutical industry through sustained accumulation.”

For Weiming Penguin, the team’s internet DNA and capabilities represent a distinct advantage.Zou Xiaoliang told VCBeat that it has become a consensus in the traditional pharmaceutical industry that building a trading platform with internet attributes still requires leadership by professionals with internet expertise. The team boasts extensive experience and a solid foundation in internet operations, product technology, and platform management. In addition, the team includes highly experienced partners with medical backgrounds. This composite, multidisciplinary team structure was the primary reason for Matrix Partners China’s investment.

It is understood that the core team of Weiming Penguin consists of nine members, with an average of 11 years of work experience. Among them, five are from Tencent and two from Alibaba, contributing a combined 64 years of internet industry experience. The other two members come from the traditional pharmaceutical industry: one has 23 years of experience, owns his own pharmaceutical and commercial companies, and possesses extensive operational and management expertise; the other has served as a general manager at a pharmaceutical company for 12 years. Their combined experience in the pharmaceutical sector totals 35 years.

And founder Zou Xiaoliang is a “"Old Penguin"，2008-2014He served as Deputy General Manager of Tencent’s Business Operations Department and Online Media Products Department. Previously, he was the Director of Alibaba’s Business Intelligence Department and one of the core founders of Alibaba Group’s Business Intelligence team.

Zou Xiaoliang, Founder of Weiming Penguin

Wang Huadong, Partner at Matrix Partners China, stated that Matrix has extensive experience in the B2B trading platform sector, having previously made successful investments in well-known ventures such as Zhaogang.com and Zhaosuliao.com. The firm’s current strategic expansion into the healthcare sector follows a consistent logical framework. The market for medical products—including pharmaceuticals, consumables, and medical devices—is valued at trillions of yuan. Meanwhile, the presence of thousands of pharmaceutical manufacturers and tens of thousands of distributors, coupled with multi-tiered distribution channels, has resulted in market fragmentation and inefficiency.

Zou Xiaoliang also mentioned that the decision to accept investment from Matrix Partners China was primarily driven by two factors. First, Matrix Partners China is a highly respected and well-known venture capital firm in the industry, with deep and extensive investments in the healthcare sector and a profound understanding of the industry. Second, Matrix Partners China demonstrates strong execution in project evaluation—avoiding delays, unnecessary complications, or indecision—and quickly forms clear views on whether to invest or not. As Xu Chuansheng, Founding Partner of Matrix Partners China, stated, Matrix Partners China and startups speak the same language and share the same operational style.