Internet home-decorating company ikongjian announced on Sunday that it has completed USD 21 million (RMB 135 million) in B-series fundraising. This round is led by Greenwoods Investment, followed by Shunwei Capital, who previously invested in ikongjian’s series A funding, reported Sina News Portal.
Shunwei Capital is founded by Lei Jun, founder of Chinese smart phone maker Xiaomi.
Its parent company ijiazhuang, established in 2014 in Beijing, calls themselves a poineering internet company in interior decoration and old apartment renovation.
The company manages its own decorating teams online, instead of signing labor contractors, as conventional decorating firms do. The company offers a price of RMB 699 per square meters, and the whole decoration process can be done in 20 days at the fastest.
According to Chen Wei, CEO of ijiazhuang, ikongjian has introduced its services to 12 Chinese cities, including Beijing, Shanghai, Guangzhou, Shenzhen and Chengdu, in which a 1500 square meters exhibition hall and a 3000 square meters warehouse are to be built. The firm has completed 2000 orders since it was founded, he added.