Shanxiuxia, a China-based electronic device repair service backed by electronics recycler Huishoubao, has closed a RMB80m ($11.7m) series B round led by SanXiaXinTai Fund, 36Kr has reported.
Matrix Partners China, the Chinese affiliate of US venture capital firm Matrix Partners, also took part in the round, which valued Shanxiuxia at approximately $145m post-money.
Founded in 2015, Shanxiuxia provides home repair services in 30 Chinese cities for products such as mobile devices, notebooks, drones and speakers. The funding will go to regional growth, the expansion of its services and the strengthening of service quality.
The latest round followed a RMB10m pre-series A investment by Success Creat Capital, an eight-digit renminbi amount of series A funding from Huishoubao and RMB100m from Matrix Partners China and Cowin Capital, according to 36Kr.
