Tencent backs Chinese language healthcare portal DXY in $500M spherical – TechCrunch

Tencent backs Chinese healthcare portal DXY in $500M round – TechCrunch

DXY, a 20-year-old on-line healthcare group for Chinese language shoppers and healthcare organizations like Pfizer, introduced this week that it has raised $500 million in a brand new spherical led by non-public fairness agency Trustbridge Companions.

Existing backer Tencent and Hillhouse Capital additionally participated within the spherical, which lifted the agency’s complete funding to over $660 million thus far. DXY’s earlier buyers embrace Xiaomi founder Lei Jun’s Shunwei Capital, Legend Capital and DCM.

The corporate began out as a knowledge-sharing platform for medical doctors and has over time added a consumer-facing side by bringing wellness recommendation and medical session providers to the general public, that’s, steps that sufferers can take at residence earlier than having to go to the hospital.

Because the pandemic took maintain, hospitals and other people around the globe rushed to shift their actions on-line, spurring demand for healthcare apps. DXY responded swiftly and was among the many first in China to introduce a real-time COVID-19 tracker in the beginning of the outbreak.

Right this moment, healthcare organizations may also use DXY as an promoting channel, a studying platform in addition to a recruiting web site, methods for the corporate to generate income.

Since its inception, the location has attracted some 130 million shoppers, greater than 9,000 medical establishments, and 50,000 medical doctors who’ve offered on-line session. The platform has a present consumer base of 20 million and counts Eli Lilly, Pfizer, and AstraZeneca amongst its main shoppers.

DXY plans to spend its new proceeds on strengthening the 2 pillars of its enterprise — help for physicians and providers for shoppers. Its shopper enterprise faces some robust opponents in China, starting from SoftBank-backed Ping An Good Doctor, Alibaba Health, JD Health, and WeDoctor, which can be backed by Tencent.

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