Xiangban Cultural Tourism, which specializes on rural holiday experiences, announced that it has raised millions of yuan in its series Pre-A round funding.
The round had Chengdu Zhengjian and Qixi Investment as lead investors. Xiangban closed an angel round in February and aims to complete its series A round financing by the end of the year.
The company claimed that its subsidiary hotel, technology unit and amusement park have also closed their independent funding rounds in the first half of 2017.
Xiangban specializes in turning rural villages into idyllic holiday destinations. It targets rustic villages with few remaining indigenous inhabitants and transforms them into holiday destination complexes with boutique homestays, playgrounds, café, restaurants, handicraft workshops and others.
The ambiance of the destinations is enhanced by surrounding farmland, forest and river. They are intended to provide quick escapes for people in neighboring urban areas.
The company are currently developing a dozen Xiangban Village projects in eastern Chinese provinces Jiangsu and Zhejiang. The projects are expected to be completed this year. (Translated by Jerry)