Unicorn startup Xiaozhu.com raised approximately US$300 million in a fundraising jointly led by the Jack Ma-backed Yunfeng Capital and Advantech Capital.
Singaporean wealth fund GIC Pte. Ltd., Joy Capital, Morningside Ventures Ltd. and Capital Today also invested in the China-based home-sharing platform's latest funding round, for which TH Capital served as the sole financial adviser, according to a press release.
Chen Chi, Xiaozhu's co-founder and CEO, said the amount will be used for the startup's global network expansion and for the development of a smart home Internet of things system.
Founded in 2012, Xiaozhu achieved unicorn status in November 2017 after it raised US$120 million in a separate Yunfeng Capital-led fundraising.