Erciyan Technology Raises CNY 100 Mn in Series B

On June 14, 2021, HangZhou Erciyan Technology announced that it had completed its Series B financing and raised near CNY 100 million. The series was led by Lingfeng Capital and followed by Firstred Capital. According to the company, the fund is expected to be used for team building and attracting talents.

 Founded in 2017, Erciyan is an online office supply rental platform. The company adopts a light-capital mode which helps itself quickly enter local markets. Through in-depth participation in Antchain, the blockchain developed by Ali Group, companies using the Erciyan platform can significantly reduce rental costs. At present, Erciyan has a team of more than 500 people in China mainland, and branches in 25 cities. It serves nearly 40,000 enterprises and leases nearly 300,000 sets of various types of equipment. The company's revenue is expected to exceed CNY 800 million in 2021, with an annual growth rate of nearly 300%. It is a company worthy of attention in the online office supply sector.