AVCJ

China online flower seller Roseonly raises $31m

  • LinkedIn  
  • Google plus  
  • Save this article  

Roseonly, a Chinese start-up that specializes in selling rose bouquets online, has raised RMB190 million ($31 million) in a Series C round of funding led by Genesis Capital.

Renminbi fund-of-funds Sheng Shi Investment and domestic VC firm Echo Capital also participated, the company told 36kr.

Founded in 2013, Roseonly.com sells rose bouquets sourced from premium vendors. It has expanded its product range to include fine jewelry, chocolate and other high-end goods. The company sees its main competitors as luxury brands such as Tiffany & Co. and Swarovski, rather than other online flower retailers.

In addition to a stand-alone website, Roseonly has opened virtual stores on e-commerce platforms such as Alibaba Group's Taobao and Tmall. Meanwhile, the company has 25 offline stores in 19 Chinese cities.

Roseonly raised a Series A round from Tencent Holdings in October 2013 and a Series B from IDG Capital Partners in 2014. The new capital will be used for products development, brand-building and international expansion.

Genesis Capital - known as Yuan Sheng in Chinese - is a late-stage investment firm founded by Richard Peng, who previously oversaw Tencent's investment unit. Recent deals include China online truck logistics platform Huochebang and B2B online liquor retailer Yi Jiu Pi.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Greater China

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs