Furniture e-commerce platform Wozaijia received USD 5 M for Series A+
Founder: Zhao Qiming
Founded in: 2016
Financing status: RMB 33 million (USD 5 million) for Series A+ financing in 2017
Furniture e-commerce platform, Wozaijia, received USD 5 M for Series A+ on August 28 to invest in market expansion plans across China.
The traditional furniture retail business is mainly divided into offline and online stores. Although offline stores satisfy customers’ needs to experience the products, it is more expensive because of the need for middlemen in the supply chain. Moreover, rent is high, and it is difficult for them to expand their business. Pure online furniture stores, on the other hand, are unable to meet furniture experience needs, so it is hard for them to sell expensive furniture online. Today, we have a furniture e-commerce platform, Wozaijia, that offers an innovative solution to online furniture sales, and which secured its Series A+ financing round.
Wozaijia is a furniture e-commerce platform that sells furniture online from upstream manufactures directly, and provides an innovative furniture experience model that allows buyers of furniture costing RMB 10,000 or more to open their homes to potential customers who want to experience their furniture. Those willing to let customers experience their furniture receive 5% commission if that customer purchases that piece of furniture on Wozaijia’s platform.
Users first select the products they want to experience and the platform will match their demands with nearby experience options, then users can make an appointment with furniture owners and go for the experience. Most buyers who want to share their furniture for experience are IT practitioners, banking staff, civil servants, and freelancers.
Founded in 2016 in Hangzhou, it has so far attracted more than 20,000 registered users on its platform. There are more than 200 buyers opening their homes to connect to Wozaijia’s furniture experience services, mainly in Beijing, Wuhan, and Xiamen.
Cloud computing company Qiniu receives USD 151 M for Series E
Founder: Xu Shiwei
Founded in: 2011
Financing status: RMB 1 billion (USD 151 million) for Series E financing in 2017
Cloud computing company, Qiniu, received USD 151 M for Series E on August 29 to expand its cloud computing businesses to more industries.
Qiniu is a cloud computing company that offers one-stop data management services to enterprises based on innovative storage solutions. In order to help its enterprise partners better mine data value, Qiniu has successfully constructed a service system in object storage, distribution acceleration, big data, and artificial intelligence products, among others. These enterprises can then focus on their products and core businesses rather than waste time and energy building a cloud computing platform themselves.
Founded in 2011 in Shanghai, it currently has more than 150,000 users in China, with more than 50 billion documents saved on its cloud storage. Meanwhile, its pages have over 30 billion views.
Qiniu grabbed this Series E financing round led by Alibaba and YF Capital. It also has some famous existing investors, such as Matrix Partners China, Qiming Venture Partners, CBC and others. The capital will be used to invest in the research and development of cloud computing technologies so that it can be applied to more industries.
（Top photo from 699pic.com）