Tencent led a funding round in New Ruipeng at a $4.4bn valuation.

Chinese multinational technology conglomerate Tencent led a funding round in New Ruipeng, a Shenzhen-based pet medical and beauty care hospital operator, at a $4.4bn valuation. The round saw participation from Country Garden Venture Capital, Boehringer Ingelheim, Snow Lake Capital, OrbiMed, Aspex Management, and Lake Bleu Capital. The Shenzhen-based company said it plans to use the new capital to help facilitate its primary care networks, improve its medical system, and strengthen its smart retail ecosystem through WeChat.