Home Improvement Startup Haohaozhu Will Invest in Brand Promotion With New Funds
Tang Shihua
DATE:  Mar 08 2018
/ SOURCE:  Yicai
Home Improvement Startup Haohaozhu Will Invest in Brand Promotion With New Funds Home Improvement Startup Haohaozhu Will Invest in Brand Promotion With New Funds

(Yicai Global) March 8 -- Chinese home improvement startup Haohaozhu will use tens of millions of dollars in new financing to focus on brand promotion, strengthening of its technical teams and the establishment of a supply chain for its operations.

B-round funding in the Beijing-based upholstering platform was led by Joy Capital with support from current shareholders such as Unity Ventures, Morningside Venture Capital and GGV Capital, news site 36Kr reported.

The platform aims to achieve full commercialization this year having exerted efforts to build a userbase and community, said Feng Su, the firm's founder.

Haohaozhu's users can access the platform through its mobile app to look for decoration solutions that suit their homes, while long-term users can share upholstering experiences. Despite users not accessing the app frequently, high-quality image sharing and a good community atmosphere have led to consistent usage patterns and garnered the attention of major home brands.

Thousands of domestic and international home furnishing brands that have set up official accounts on the platform including IKEA and well-known Chinese firms ZiinLife and Beijing Zaozuo Ltd.

The company launched an advertising campaign for the first-time last year with a focus on home improvement brands, while e-commerce is expected to become a business sector in the future.

As users and content volume increase, Haohaozhu also aims to invest in improving algorithms to provide personalized recommendations.

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Keywords:   FINANCING,Social Media,Home Improvement,Haohaozhu