A subsidiary of Nasdaq-listed Chinese digital healthcare platform 111 Inc has secured 515 million yuan (almost $78.8 million) in new funding at a pre-money valuation of 10 billion yuan ($1.5 billion), as the unit plans an initial public offering (IPO) on Shanghai’s STAR Market.
As the principal operating subsidiary of 111 in China, 1 Pharmacy Yaofang Technology (Shanghai) Co Ltd (Yang Fang Shanghai) raised the new capital from existing shareholders, such as Youkai Investment, Shanghai Strategy Fund, and Liangji Industrial, 111 disclosed in a filing with Nasdaq on late Tuesday.
