China-based online property search engine Zhuge has raised RMB150m ($22.6m) in a series B round featuring real estate agency Shanghai Resource Property Consulting, China Money Network reported today.
Fosun RZ Capital, the corporate venturing vehicle for conglomerate Fosun, also took part in the round, which was led by venture capital firm Sequoia Capital. Other investors included Maintrend Capital, Aqua Ventures and Suben Investment.
Founded in 2015, Zhuge operates an online platform that collects real estate data such as current and historical house valuations and agency fees to help potential homebuyers make informed decisions.
The portal also tracks which properties garner most interest and enables real estate agents and property developers to improve their online traffic.
The cash injection will allow Zhuge to boost its marketing activities, upgrade its offering and expand its service to cover additional cities.
Zhuge had previously raised $7.3m in series A funding from Maintrend Capital and unnamed existing shareholders in March 2017. Fosun RZ Capital led the company’s $4.5m in pre-series A round in October 2016, four months after it raised $1.5m from Aqua Ventures.