Hangzhou-based Qunhe Information Technology, operator of O2O home decoration platform Kujiale, recently announced completion of USD 100 mln in Series D funding led by Shunwei Capital Partners with participation by Pavilion Capital, managed by Singaporean investment company Temasek Holdings, and prior-round investors including IDG Capital Partners, Granite Global Ventures, Yunqi Partners, Hearst Capital, and US-based Linear Venture Corporation. Following this round of funding, Qunhe will be valued at USD 600 mln.
Funds will be used to expand into international markets, improve big data systems, create a Kujiale cloud design platform matrix, accelerate technology development, and hire new talent. Huang Xiaohuang, chairman at Kujiale, said that the company will focus on using design as an entry point, and connect upstream and downstream resources to form a home furnishings industry operating system and promote industry restructuring and upgrades.
Kujiale was established in November 2013 as a VR-based smart interior home design platform. It has developed cloud rendering, cloud design, BIM, VR, AR, and AI technologies in support of its panoramic VR design and renovations model.
Kujiale said that in 2017 operating revenues reached more than RMB 300 mln and its library contains models for 90% of residential housing resources in China. It has more than 3 mln interior designers and 10 mln homeowner users.
Keywords: VC Huang Xiaohuang valuation Internet funding Series D Temasek Shunwei Hearst Linear Venture Pavilion Capital Qunhe Kujiale interior design Yunqi Partners IDGVC GGV Capital virtual reality home improvement