Hunliji, a China-based wedding services marketplace backed by diversified conglomerate Fosun, raised $70m yesterday in a series D-1 round led by investment group Orchid Asia, according to an announcement on its WeChat account.
Matrix Partners China, a local affiliate of US-headquartered private equity and venture capital firm Matrix Partners, also took part in the round, which increased the company’s overall funding to approximately $170m according to China Money Network.
Founded in 2013, Hunliji operates an online platform that helps users plan their weddings and book services such as photography, car rentals, invitation arrangements, flowers and catering.
The company’s platform has been utilised by more than 50 million users and connects to approximately 200,000 merchants across more than 400 cities and regions in China. Proceeds from the round will be used to enhance its artificial intelligence and big data technologies.
Orchid Asia previously led the company’s $65m series C round in March 2018, investing alongside Fosun RZ Capital, a corporate venturing subsidiary of Fosun, and Matrix Partners China.
Shanghe Capital subsequently led a series C-plus round of undisclosed size for Hunliji, according to China Money Network. It had previously received a total of $30m in a Matrix Partners China-led series B round in 2015 and a 2016 series B-plus led by Fosun RZ Capital.