IKongJian

About IKongJian

IKongJian, registered as 爱空间科技(北京)有限公司, is a company operating in the home renovation market in China, founded in 2014 by Chen Wei. The founder and CEO, Chen Wei, brought significant industry experience to the venture. Prior to establishing IKongJian, he spent seven years at Boloni, a home decor company, where he managed national decoration services and was an early proponent of the holistic finishing concept. In 2010, he founded Space E-home Decoration Engineering Co., Ltd., which focused on large-scale finishing contracts with real estate developers like China CITIC Bank and Sunshine 100. This background in both traditional decoration and large-scale project management informed IKongJian's subsequent business model. The company is also co-founded by COO Xin Yihua, formerly the Executive Vice President of the e-commerce platform Lefeng.com.

IKongJian positions itself as an internet-based home improvement platform, aiming to standardize a traditionally fragmented and opaque industry. The business targets homeowners undertaking renovations of new, second-hand, or old properties, offering a fixed-price, fixed-timeline model. Its revenue is generated by providing all-inclusive decoration packages, which are priced per square meter. This model seeks to eliminate common issues such as hidden charges and project delays. The company's service package includes design, primary materials from well-known brands, and labor from its own team of trained workers, distinguishing it from platforms that merely connect homeowners with third-party contractors. Clients can monitor the renovation progress remotely through a proprietary mobile application, removing the need for constant on-site supervision.

The company's approach quickly gained traction, securing a Series A funding of 60 million RMB in February 2015, led by Shunwei Capital. This was followed by a Series B round of $21 million in December 2015 from investors including Greenwoods Asset Management and Shunwei Capital. A significant Series C round of $31.7 million was raised in June 2017, led by Gome Holdings Group. Throughout its history, IKongJian has raised a total of $62.3 million over three funding rounds. Initially launched in Beijing, the company expanded its operations to numerous other cities across China, including Shanghai, Guangzhou, and Shenzhen.