Ddu Completes Series Pre-A of Financing

May 25, 2017  Source: Ddu 227

Recently, Terry Yuan, the founder and CEO of Ddu, revealed that Ddu (www.drugdu.com) has raised 10 million yuan in Series Pre-A round of financing, which will be used to improve the service and build a strong team. Ddu is a global leading pharmaceutical and medical device  B2B online platform. 

According to the statistics of Medicare Chamber of Commerce, China's total imports and exports of pharmaceuticals was $102.637 billion dollars in 2015. It was the first time to exceed $100 billion with year-on-year growth of 4.73% in 2014. With the Belt and Road Initiative and the forthcoming aging society period, the cross-border market is with great potential. At present, more and more Chinese pharmaceutical companies eager to open up the international market, but most of them lack overseas information sources as well as guide and support from relevant third party services.

Ddu (www.drugdu.com) is a global leading pharmaceutical and medical device  B2B online platform, with over 1,000,000 product database and 100,000 company information from countries and regions. There have been over 8,000 registered members, one quarter of them have enjoyed Ddu promotion service.

Terry Yuan, the founder and CEO of Ddu, said that there are so many difficulties existing in the cross-border business of pharmaceuticals and medical devices, such as asymmetric information, complicated process, limited resources and so on. What Ddu wants to do is to solve the difficulties and help users to find customers and products. Since the platform officially launched in June 2016,there is a good momentum for Ddu’s operational data. The user registration volume continued to rise with the growth around 25% month-on-month. It will continue to rise in 2017.

There is a big market capacity for the pharmaceutical and medical device industry. Ddu focuses on integrating suppliers and buyers in the cross-border trade of pharmaceuticals and medical devices. With numerous praises for its service and operation, Ddu is believed to have a bright future.

There is a talented team in Ddu. Most of them come from Internet groups, pharmaceutical or medical device companies, overseas institutes, etc. They work to together to overcome industry difficulties and provide technical support, which make it easier to attract financing.

For the development after the Pre-A round of financing, Terry Yuan said,"This round of financing will be mainly used to Improve the technical strength and customer service. Big data, service integration and user experience are the cornerstone of Ddu’s operating mode. Ddu aims to provide users with a cost-effective way in cross-border business. Precise matching service basing on users’ needs will be available. Meanwhile, Ddu will build a knowledge sharing and industry training platform, expecting to help tens of thousands of users get through trading difficulties and start cross-border business within three years.” 

 

 

By editor
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