Oasis Capital Leads Exclusive Angel Round in Second Elephant Tech, Which Closes Series A of Tens of Millions of RMB | Oasis Vitality

Prefabricated interior fit-out SaaS platform provider Second Elephant Technology (秒象科技) recently completed a Series A funding round of tens of millions of RMB, adding 5Y Capital to its roster of backers alongside Oasis Capital and Hillhouse. 5Y Capital led this round, with all existing shareholders continuing to participate. The proceeds will be used primarily for underlying software R&D, application optimization, and user expansion. Previously, Second Elephant completed a Pre-A round of tens of millions of RMB led by Hillhouse with Oasis Capital as a co-investor; Oasis Capital had also been the sole investor in Second Elephant's 2020 angel round.

Founded in 2020, Second Elephant Technology is a digital service platform for prefabricated interior decoration dedicated to reconstructing spatial service efficiency. It primarily serves the home furnishing, commercial fit-out, and real estate sectors, providing scenario-based solutions and full-process SaaS software services covering online design, automated bill of materials generation, rendering, one-click work dispatch, project management, and project collaboration. The company has also established a prefabricated fit-out labor service platform that connects industrial workers and provides professional labor-sharing services to society.

According to data from Yiou Research, in 2020 the commercial fit-out and residential decoration markets totaled approximately 2.40 trillion and 3.54 trillion RMB respectively, with combined annual output approaching 6 trillion RMB — roughly 6% of China's GDP. Prefabricated decoration holds substantial growth potential within this existing market. Sources indicate that the home furnishing industry's "market harvesting" has evolved from standardization to customization, from light to heavy models, and from front-end to back-end vertical integration, with each phase unleashing industrial opportunities that created different market leaders. The currently emerging sectors of prefabricated decoration and full-chain digitalization of home furnishings are expected to produce several unicorn companies.

Founder Zhenxing Heng noted that the decoration industry is in the early stages of transformation. On one hand, many participants cannot articulate their specific internal transformation needs, and the market lacks clear digital application pathways across the full chain. On the other hand, most enterprises face demands for supply chain data flow in areas such as design schemes, detailed layout planning, and precise quantity surveying, yet few matching software solutions for prefabricated decoration exist in the market.

Second Elephant Technology entered through design-side SaaS software, developing the underlying system framework for prefabricated interior fit-out software. Designers can use the system frontend to rapidly express design requirements and generate order data, while manufacturers can match supply chain data through the system backend to optimize production line workflows. By connecting design-side and supply chain data, Second Elephant provides full-chain prefabricated decoration solutions.

Specifically, Second Elephant's SaaS product offers three major application systems. First, a design system integrating design, layout planning, and quantity surveying for rapid design scheme generation. Second, a transaction system connecting front-end design with back-end production, enabling project bill-of-materials data to flow directly to factories. Third, a collaboration system enabling multi-role online communication and real-time project progress management. Its core technologies include 3D precision modeling, real-time digital construction method libraries, online prefabricated design platforms, and factory order decomposition algorithms. Testing showed that for a 1,000-square-meter commercial space, Second Elephant's prefabricated design software completed detailed design in 2 hours — approximately 6x the efficiency of traditional prefabricated designers.

The product is currently in internal trials at nearly a hundred upstream manufacturers, gradually establishing a foothold in the upstream industrial pathway. Its customer base falls into three categories: building materials manufacturers focused on component production, primarily provided with one-click bill-of-materials technical services; decoration enterprises focused on engineering services and supply chain integration, provided with full-process SaaS solutions; and industry designers and related practitioners, provided with corresponding software services and skills training.

For different customer segments, Second Elephant opens corresponding modules based on user needs. The overall software system includes wall design systems, floor design systems, ceiling design systems, as well as integrated bedroom design systems and integrated bathroom design systems. Notably, all these services are applied through scenario-based design entry points.

Founder Zhenxing Heng told 36Kr that SaaS fundamentally solves data matching problems in supply chain production. Unlike existing decoration software such as Kujiale and Tangjikede, Second Elephant's prefabricated interior fit-out software considers the constructability of design outputs, mapping out intelligent matching rules for components and construction methods within the software, and using optimization algorithms to achieve matching between design data and production data — representing a multi-role collaborative service form with external chain coordination.

This creates two driving forces: supply chain manufacturers can better match optimal internal design rules to improve operational efficiency, while individual users can easily find cost-effective design solutions.

On the customer front, Second Elephant Technology has signed partnership agreements with hundreds of collaborators, with nearly 10 deep-delivery engagements including Xujie Technology, Zhongcai Group, Zhongyu Prefabrication, Yuanli Space, Taiwei Yiju, and Wangshan Xihu. Since its internal testing salon in January 2021, its service schedule has been booked a year out. The company is currently optimizing delivery processes with the goal of reducing overall delivery implementation cycles to within one week.

Second Elephant's current revenue comes primarily from software subscriptions. The company has a 200-person technical team and a 50-person prefabricated fit-out expert team. According to Second Elephant Technology, beyond design tools, over 500 certified industrial workers have joined the platform. Founder Zhenxing Heng and the founding team possess extensive experience in the prefabricated construction industry.

Source: 36Kr

Oasis Capital is a new-generation Chinese venture capital firm dedicated to discovering the most vital entrepreneurs of the next decade in China, growing alongside them to create long-term value. "Participating in the vitality of life" is Oasis Capital's vision and mission. This vitality represents both the direction of structural transformation in the era and the resilience and evolutionary power of entrepreneurs. Oasis Capital focuses on early and growth-stage investments of $3 million to $30 million per deal, with particular emphasis on healthcare, enterprise services, and other technology-enabled service sectors, supporting China's new service upgrade driven by technology.