China interior design site To8to raises $200m

Launched in 2009, Shenzhen-based To8to is an online-to-offline (O2O) business, operating a platform that connects home owners with interior decorating firms, designers and construction material providers. It also offers construction supervision services and runs a reimbursement scheme to protect consumers' rights and ensures quality renovations.

The platform is used by nearly 60,000 interior decoration companies and 700,000 designers from 80 cities across China.

Matrix invested in a Series A round in 2011 and made a follow-on investment in June 2013. In 2014, Sequoia led a Series B round, alongside Matrix.

The new capital will be used to provide subsidiaries for home renovation and introduce a new service that enables users to buy material online at discounted prices, according to an announcement.

Launched in 2005, 58.com is a platform for classified ads for flat rental, recruitment, second hand goods and cars. The company, backed by Warburg Pincus, SAIF Partners and DCM, raised $187 million in an US IPO in October 2013. It recently acquired an online real estate listing platform Anjuke for about $267 million.

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• Topics
• Greater China
• Venture
• Technology
• Expansion
• China
• Venture
• Sequoia Capital
• Matrix Partners
• TMT
• Technology
• Growth capital