Cheer U Islands secures RMB 7.5 million in Pre-A round
Cheer U Islands received RMB 7.5 million in series Pre-A round. Investors of the round will get a 15% stake in Cheer U Islands.
Cheer U Islands, a sub-brand of Cheer U Holidays that customizes island tour, announced on August 7 through entrepreneurial reality TV show Dragon’s Den that the company has raised RMB 7.5 million in its Pre-A round. The deal puts the company’s value at over RMB 50 million.
The round’s investors ZhenFund, 58.com Inc.’s CEO Jingbo Yao and Dangdang Inc. will get a 15% stake in Cheer U Islands.
Cheer U Islands has doubled its valuation in just six months after its inauguration. The company has increased its tour routes from 40 to 90 and aims to have 200 by the end of the year.
Cheer U Holidays’ founder Yiliang Jiang announced in May that the company had received millions of yuan in its angel round led by Plateno Group and had joined the Chinese hotel operator’s incubator. (Translated by Jerry)