Chinese internet company LeEco announced Sunday that it landed 16.8 billion RMB (2.4 billion USD) in fresh funding led by China’s real estate titan Sunac China Holdings Ltd. Sunac will become the company’s second-largest shareholder after the deal.

The company disclosed that Sunac will contribute 15 billion RMB of the total funding broken into three parts:

Hua Insurance and Leran Investment, a state-backed venture capital firm, were also part of the deal, injecting 400 million RMB and 1.43 billion RMB in the company, respectively.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.