The Tencent-backed online medicine distributor has reportedly increased its valuation to more than $1bn in a series C3 round of undisclosed size.

Miaoshou Doctor, a China-based online pharmacy backed by internet company Tencent, has raised an undisclosed amount in a series C3 round led by private equity firm Starquest Capital, China Money Network has reported. The company told China Money Network the round included undisclosed existing investors, and that it increased its valuation to RMB7bn ($1bn). Founded…

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