Shanghai-based real estate startup Aiwujiwu continued its whirlwind year of funding with the announcement yesterday of a series D round worth US$120 million. Investors in the round included GGV Capital, MorningSide Ventures, Shunwei Capital, and Banyan Capital.
Aiwujiwu is a rental and second-hand home listing portal and transaction platform. The site allows for easy location-based visualization and searches, and many of its listings include video tours. It acts as a kind of virtual agent, allowing you to do things like book visits via your smartphone. Aiwujiwu charges a 1% commission for home sales, but its rental services are free.
Aiwujiwu is a relatively new platform but funding has come thick and fast, with undisclosed series A, B, and C rounds all having been closed within the past year. MorningSide and Banyan also clearly believe in the company, as both have been investors in every single round Aiwujiwu has raised. Shunwei was also an investor in the company’s December series C round.
China’s online real estate market is crowded – to put it lightly – and competition is fierce. In March we saw 58.com acquire real-estate site Anjuke for US$267 million, but despite the big players innovative startups are still getting funding too. Aiwujiwu has its work cut out for it, but the site does offer a cleaner aesthetic than many competitors, and its relatively unique features (like all the video tours) may help set it apart.
(Source: Sina Tech)
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