Tencent leads over $100m funding in pet clinic operator New Ruipeng

Tencent leads over $100m funding in pet clinic operator New Ruipeng

New Ruipeng Pet Healthcare Group

New Ruipeng Pet Healthcare Group Co., Ltd, a specialist providing medical care services for pets, said on Tuesday that it has pocketed “hundreds of millions of US dollars” in a funding round led by Chinese tech giant Tencent.

The fresh fundraising brings its market valuation to nearly 30 billion yuan ($4.4 billion), according to the company statement. The funding round saw participation from two strategic investors — real estate developer Country Garden’s investment vehicle Country Garden Venture Capital, and global pharmaceutical giant Boehringer Ingelheim.

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