What is Yikuai Medicine? Yikuai Medicine Review

Company Introduction

Hunan Yikua Pharmaceutical Technology Co., Ltd. was established in March 2019. It is a wholly-owned subsidiary of Hunan Space Folding Internet Technology Co., Ltd. It currently independently operates a Yikua pharmaceutical e-commerce platform, which aims to link pharmaceutical suppliers (pharmaceutical companies and pharmaceutical companies) and pharmaceutical terminals (pharmacy, clinic, health station), and reconstruct the supply chain of the pharmaceutical market with e-commerce platform services + SaaS services + intelligent warehousing and distribution systems as the entry point. Through the penetration and connection of mobile terminals, a transparent, open and efficient terminal marketing network has been established. The platform will connect pharmaceutical suppliers and pharmaceutical terminals, realize the effective aggregation of scattered purchase demand, and realize resources to form a supply and demand relationship between pharmaceutical terminals. Relying on the endorsement of chain pharmaceutical retail listed companies, it provides a variety of drug options, strictly controls drug quality, and a fast and rapid logistics distribution system. The company has obtained top-level A-round investment.

Current situation

Since its official launch in June 2019, Yikuai Medicine has established cooperation with many of the top 100 industrial pharmaceutical companies in China, covering more than 3,000 drug specifications, more than 500 controlled sales varieties, and serving more than 12,000 terminal purchasers. So far, the company's business model has been running smoothly, and it will expand to multiple provinces across the country.

Business Model

Relying on its strong supply chain advantages, the company has brought together the top 100 industrial pharmaceutical companies in the country to control advantageous drug procurement resources, and quickly formed a unique category structure through the advantages of direct procurement and structured data from upstream pharmaceutical factories. It solves the core demands of small and medium-sized chain pharmacies and single pharmacies in terms of product variety and operations, empowers pharmacies with integrated operations, increases terminal customer acquisition and service capabilities, and provides pharmacy operation management + full-process supply chain services.

Yikua Pharmaceutical has been deeply engaged in the B2B model, focusing on the peripheral markets of core cities and the lower-tier markets in counties and districts, and has built an integrated "supply chain + operation" empowerment platform for small and medium-sized pharmacies.

Team members

Most members of the Yikuai Pharmaceutical team come from within the industry and have accumulated rich experience in pharmaceutical channel resources, sales development, operational structure, and Internet platform management and operations. This also provides strong support for the company's successful positioning and efficient market entry.

Financing

In June 2019, the company received a multi-million-level angel round of financing led by Dexun Investment, followed by Jiuhe Venture Capital, Meihua Angel Venture Capital and Buchang Pharmaceutical Family Office.

In October 2020, Yikuaiyiwu, a pharmaceutical B2B supply chain and operation service platform, received tens of millions of yuan in Series A financing. This round of financing was led by Sequoia China Seed Fund, followed by Cherubic Capital, Meihua Angel Venture Capital, and Dexun Investment. This round of financing will be mainly used to strengthen supply chain capabilities, research and development, and expand the team, thereby promoting the integrated construction and integration of upstream and downstream supply chain systems.

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