Kujiale, a China-based virtual reality platform for interior design, has raised $100m in a series D round featuring Hearst Ventures, a subsidiary of media group Hearst, China Money Network reported today.
The round was led by venture capital firm Shunwei Capital and included Pavilion Capital, a branch of Singaporean government-owned investment firm Temasek, as well as IDG Capital, GGV Capital, Yunqi Partners and Linear Venture.
Founded in 2011, Kujiale has developed an online platform that allows users to create design sketches of their home. The renderings can be converted into virtual reality images to help homeowners better appreciate how furniture or renovations will look in real life.
The platform has attracted approximately 3 million interior designers and more than 10 million private users according to China Money Network.
Kujiale will use the proceeds from the series D round, which valued it at $600m post-money, to establish research and development centres in the cities of Hangzhou and Shanghai.
The funding will also drive an international expansion in which the company plans to invest RMB100m over the next three years to launch virtual home goods stores across the world.
Kujiale reportedly secured $1.6m in series A funding from IDG Capital, before raising $10m from Hearst Ventures, social media company Jingwei, GGV Capital, Yunqi Partners and Matrix Partners in 2015.