Manycore Tech, which provides a software platform for 3D interior design and construction in China, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Manycore Tech's flagship platform, Kujiale, provides a cloud-native, mobile-friendly software platform to enable the interior design, decoration, and construction industry for residential, commercial, and industrial spaces in China. The company claims that Kujiale covered over 90% of household floor plans for new residential buildings in China in the past five years, and includes over 80 million 3D design models and textures. The company also launched Coohom, an international offering, which is currently used in over 200 countries and regions. Manycore Tech was the world's largest platform for 3D interior design by MAUs in the 1Q21.
The Hangzhou, China-based company was founded in 2011 and booked $58 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol KOOL. Manycore Tech filed confidentially on April 29, 2021. Morgan Stanley, J.P. Morgan, CICC, China Securities, and Futu Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
