VC-backed Chinese home furnishing site Jia.com raises $160m

Huajin Deng, CEO of the company, made the announcement via its official Weibo microblog, although he didn't reveal the identity of the investors.

Operated by Shanghai Qijia Network Information Science & Technology, Jia was launched in 2005. The site connects interior designers and material suppliers with online users. Its services now cover 50 different Chinese cities, with about eight million registered members and 40,000 renovation companies and suppliers on its platform.

In 2007, the site received a reported $2 million Series A round from Suzhou Industrial Park Venture. Two years later another local investor, GF Xinde Investment Management, provided about $10 million. In 2010, CDH Venture and Chinese search engine Baidu commited an undisclosed sum in Series C funding.

The proceeds will be used to extend the platform's online-to-offline (O2O) strategy and build up a team to support the launch of its mobile app. Jia will also scale up its business in home furnishing with a view to providing more transparency on pricing and reliable services.

Last month, Shunwei Capital Partners led a RMB60 million ($9.6 million) Series A round of funding for Ikongjian.com, a Chinese interior finishing site, with participation from H Capital and DST Advisors.

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• Topics
• Greater China
• Venture
• Technology
• Consumer
• Early-stage
• China
• Venture
• TMT
• CDH Investments Management
• Baidu
• Consumer
• Growth capital