China: Pop-up space rental startup Putiandi raises $13.6m Series A
Fuzhou, China. Photo by 尧智 林 on Unsplash
Shanghai-based pop-up space rental platform has raised a 90 million yuan ($13.6 million) Series A round, it announced on November 7.
Growth stage investor , , and Beijing-based venture capital firm, contributed 60 million yuan, while , a VC firm focused on mobile Internet and entertainment investments, provided the rest.
The funds raised will be used to optimize the overall experience of navigating through Putiandi for short-term commercial rentals.
The Chinese firm provides a pop-up site rental platform, which makes space available to businesses for promotion after checking the availability of space against databases maintained by shopping malls and retail space operators, and makes that space available to businesses looking for opportunities to promote their brand. Space can be leased by the day, the week or the month in shopping malls and commercial spaces.
Putiandi has partnered with brands including BMW, Bosch Home Appliances, Dyson, Electrolux, Baidu Map and JD.com.
Prior to the latest investment round, back in July 2016, the firm had received 20 million yuan in pre-A funding, led by GoHigh Fund.