Apartment rental service provider Cjia receives USD 50 million for pre-Series A
Founder: Jin Hui
Founded in: 2015
Financing status: RMB 350 million (USD 50 million) pre-Series A round in 2017
Apartment rental service provider Cjia on Thursday received USD 50 million for its pre-Series A financing round to integrate information technology with its apartment rental service platform.
Cjia is an apartment rental service provider that provides customers with nonstandard accommodation services, as well as meeting customers’ needs for personalization and experience.
Tenants can choose to rent its apartments for a few days or for a long time. Its management system monitors the condition of the apartments in real time. As its system is based on artificial intelligence and big data technology, it can automatically arrange its apartments to help customers find apartments near their workplace or recommend tourists apartments near scenic spots. In addition, its management system arranges housekeeping staff for cleanup work in advance to ensure that vacant apartments are ready to be rented.
All of Cjia’s apartments are equipped with smart door lock systems so that customers can complete self check-ins online. Customers can complete both payments and signing of long term leases online. Moreover, Cjia will introduce big data technology to obtain dynamic pricing based on the number of available vacant apartments, as well as predicting the demand of customers. When the demand exceeds supply, the pricing for its apartments will be automatically higher, and vice versa.
Founded in 2015 in Shanghai, Cjia has more than 5,000 apartments available for rental in China’s first-tier cities, and there are more than 40,000 customers living in its apartments. It plans to have more than 10,000 apartments for rent by the end of this year.
This pre-Series A financing round was from Huazhu and IDG Capital. The capital will be used to improve efficiency of its platform with the introduction of big data technology, launch of new rental apartments in new cities, as well as expanding its business to the travel industry.
Beijing-based furniture brand Zaozuo receives USD 20 million for Series B
Founder: Shu Wei
Founded in: 2014
Financing status: RMB 136 million (USD 20 million) Series B round in 2017
Beijing-based furniture brand Zaozuo on Thursday received USD 20 million for its Series B financing round to improve efficiency of its supply chain.
Zaozuo is a furniture brand catered to China’s rapidly growing middle class, offering furniture and lifestyle products that are manufactured in China. Zaozuo has tried to distinguish itself from competitors by letting customers vote on the designs and styles of furniture at the prototype stage before they are mass produced. This is one strategy that the company used to attract new customers and to decrease its costs on inventory.
Founded in 2014 in Beijing, it has two flagship stores in Beijing and Shanghai along with online stores on its website. There are more than 2,000 pieces of furniture available on its online and offline stores with more than 100,000 registered members.
Zaozuo works with 50 factories in China and more than 80 European designers. Moreover, it has reached partnerships with more than 30 factories in China, each specializing in different materials and techniques, and thus contributing to a series of furniture products. These include upholstered seating, lighting, metal pieces, and wooden furniture.
Zaozuo previously received funding from IDG Capital, ZhenFund and some other famous venture capitals. This Series B financing round was led by Capital Today, with Bertelsmann Asia Investments also participating as an investor. Zaozuo plans to use this fund to improve efficiency of its supply chain, as well as design and produce new furniture products.
(Top photo from 58pic.com)