# Beijing Yicai Network Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beijing-yicai-network-technology-co

- Industry: Medical Devices & Equipment
- Headquarters: Beijing, China
- Website: www.gongyingshi.com
- Total disclosed funding: $3.5M
- Latest round: Series B (Jan 4, 2017)
- Investors on record: 3

## About

Beijing Yicai Network Technology Co., Ltd. is a procurement platform specializing in scientific and medical product acquisition, primarily serving research institutions and healthcare facilities in China.Founded in 2014, Beijing Yicai Network Technology Co., Ltd. operates from its headquarters in Beijing, China. The company focuses on providing a comprehensive procurement platform for scientific and medical products. On January 4, 2017, the firm successfully raised CNY 22.00 mn in a SERIES A funding round led by Dragonrise Capital. Fangfang Li is the founder of the company.The company specializes in a comprehensive procurement platform that facilitates the acquisition of scientific and medical products. Their core offerings encompass a diverse range of equipment and reagents, including advanced genomic testing systems, bioassay technologies, and laboratory instruments, specifically designed to meet the needs of research institutions and healthcare facilities. The platform serves over 31,586 institutional users, comprising universities, military medical research institutions, and hospitals, thus addressing critical needs in the scientific research and healthcare sectors. Products are marketed and sold primarily within China, targeting key regions that host major research institutions and healthcare providers. By streamlining the procurement process, the company enhances accessibility to essential scientific resources, fostering innovation and advancements in research.The company generates revenue through a transactional model that primarily involves business-to-business (B2B) interactions. Clients engage in the procurement of goods and services through a structured bidding process or direct purchases, which may include subscriptions or partnerships with suppliers for ongoing product availability. Transactions typically initiate with buyers submitting specific requirements, allowing suppliers to participate in competitive bidding, thus ensuring cost-effective solutions. Given the nature of the products offered, revenue is derived from sales of flagship items such as genomic testing kits and laboratory instruments, with pricing structures reflecting the sophisticated nature of the technologies involved. This transactional framework allows for flexibility in purchasing, catering to the unique demands of their diverse client base.Moving forward, Beijing Yicai Network Technology Co., Ltd. plans to launch new products designed to enhance its procurement platform, although specific release dates have not been disclosed. The company is also targeting expansion into additional markets across Asia by the end of 2023, which will be supported by recent funding raised. The SERIES A funding round concluded in January 2017, with proceeds intended to bolster these initiatives.

## Funding rounds

- Series B, Jan 4, 2017 — Dragonrise Capital
- Series A, Aug 1, 2015, $3.5M — Kaiwu Capital, Dragonrise Capital
- Seed, Mar 1, 2014 — Kaiwu Capital, VenturesLab

## Investors

- Kaiwu Capital (https://capitalatlas.ai/funds/kaiwu-capital) — Seed, Series A
- VenturesLab — Seed
- Dragonrise Capital (https://capitalatlas.ai/funds/dragonrise-capital) — Series A, Series B