Alibaba injects $71m into Chinese cloud-enabled home design platform

Alibaba injects $71m into Chinese cloud-enabled home design platform

Can Zhisen, founder and CEO of Chinese cloud-enabled home design and decoration platform 3vjia.com, announces the completion of a Series C funding round at a press conference on October 30, 2019 in Guangzhou, China. Source: 3vjia WeChat official account

Alibaba Group has invested 500 million yuan ($71 million) in a Series C round raised by 3vjia.com, which will help the Chinese cloud-enabled home design and decoration startup explore business opportunities in the fields of smart manufacturing and new retail.

The investment comes on the heels of a Series D+ round announced by its domestic rival Kujiale.com, whose valuation topped $1 billion roughly one week ago. This is not the first time the two companies have gone toe-to-toe in raising capital.

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