Xiaoyaoyao
小药药
Xiaoyaoyao (小药药) is a pharmaceutical-industrial-internet company founded by Li Meng . It operates a B2B platform connecting upstream drug manufacturers with downstream pharmacies and clinics—reportedly serving hundreds of thousands of pharmacies and millions of clinics—while layering SaaS systems and data analytics across the supply chain to cut costs and improve efficiency .
Source Code Capital led its Series B in 2017 and continued to double down through the C+ round, with partner Xingshi Wang also involved in subsequent follow-on investments . The firm has cited Xiaoyaoyao among its representative bets in both industrial internet and healthcare-tech crossover portfolios .
elsewhere's corpus does not contain more recent operational or financial detail on the company itself; the above is drawn from Source Code Capital's 2018–2021 reporting on its portfolio.
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Coverage
MaHui Spotlight | Multiple MaHui Members Named to Wealth's 40 Under 40 China Business Elite and Other Lists
Young leaders are driving a revolutionary transformation of productivity.
"The Tech + Biotech" Crossover: A New Investment Consensus on Convergent Innovation
Professional, systematic, and patient for the long haul.
Source Code Capital closes fifth RMB fund, raising over 7 billion yuan to back tech innovation and SMEs
Invest early, invest small, invest in tech
Source Code Capital's Xingshi Wang and Yungang Huang Named MVIP Young Investors of the Year and Best Digital Healthcare Investor
MVIP of the Year, Best Investor in Digital Healthcare.
Source Code Capital Closes $1 Billion New Fund Raise
Be the investment firm with the most entrepreneurial spirit
Source Code Capital announced that Xingshi Wang has been appointed as partner.
Focus on long-term B2B investments in industrial internet, automotive and mobility, and other enterprise-facing sectors.
Let's meet today — I'll be waiting for you at the Shenzhen office!
Source Code Capital's Shenzhen office is now officially open, embedding itself at the cutting edge of South China's tech innovation and riding the new wave of smart manufacturing!
Source Code Capital announced that Wei Wang has officially joined as a partner.
After joining, Wang Wei will support Source Code Capital's portfolio companies on capital markets matters, drawing on his years of experience to empower companies with capital markets development needs.
Source Code Capital Closes RMB 3.8 Billion for Fourth RMB Fund
Late-stage investment, qualitative transformation, organizational capability
Source Code Capital Wins Multiple Awards in Zero2IPO's 2020 China Equity Investment Annual Rankings
Create Lasting, Real Value
Source Code Capital portfolio company KE Holdings successfully went public, becoming China's "first listed residential services platform."
A shell is home, the pearl in a Chinese heart.
Forbes Releases Major Rankings, Source Code Capital's Yi Cao and Yungang Huang Make the List
Create lasting, real value.
Code Brain "Standing Together Against COVID-19" Series Session 7: Sales Team Management During Extraordinary Times
**Speaker:** Jiawei Gan, Operating Partner at Hillhouse, former COO of Meituan
Standing Together to Weather the Storm — Source Code Capital and Code Club Members Rush Aid to Wuhan's COVID-19 Fight
"Isolate the virus, but never isolate love."
Xingshi Wang, Source Code Capital: Industrial Internet Innovation Through the Lens of Organizational Capability
Source Code Capital remains committed to creating lasting, tangible value, focusing on the challenges and uncertainties that member companies face as they scale from 1 to 100. And organizational capability building is one of the most critical factors determining whether a growth-stage industrial internet entrepreneur can achieve iterative expansion.
Where Are the Boundaries of Industrial Internet? | Source Code Capital 2019
"Knowledge Capital, Deep Practice" — at Source Code Capital's 2019 Ma Hui annual conference, the founders and CEOs of Xiaoyaoyao, Yijiupi, ZNLH, and YQN Logistics were invited to explore the boundaries and breakthroughs of industrial internet.
Source Code Capital Closes $570 Million New Fund
Create lasting, real value
Yi Cao of Source Code Capital Named to 2019 Forbes Midas List
Create Lasting, Real Value
Source Code Capital Wins Five Awards Including Zero2IPO's 2018 Top 50 China VC Firms
Create Lasting, Real Value
The Great To B Adventure
The true B2B adventurers have mostly become big winners.
The Fourth Annual Ma Hui Conference Successfully Held, CEOs Gather to Share Entrepreneurship Insights, Four Companies Announce Completed Financing Rounds | Ma Hui Journal · April
**Source Code Capital Newsletter:** Here we record the small steps of progress made by our team members, share the joy of growth, and look forward to an even brighter future.
Industrial Internet: Connecting, Enabling, and Building Ecosystems | Code Meet 2018
Decoding Industrial Internet
