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Delta-v Capital led the round, and previous investors like Madrona Venture Group, Columbia Capital and Top Tier Capital Partners also participated. Total funding of the 7-year-old Seattle-based company now stands at million.

Despite the growth, Kong admits the company has yet to make a profit. "We expect to break even in October."

Demand is expected from businesses in the sectors of technology, financial services, medical and health, which will likely post new growth after reaping benefits from the zone.

Despite the government's effort to encourage ecological burials - encouraging the scattering of ashes rather than buying burial sites - demand for cemetery space runs high. There has been a surge in cemetery prices over the past few years, with some spaces in Shanghai reportedly reaching 300,000 yuan (,800).

Delegations led by Vice-Foreign Minister Liu Zhenmin and Philippine Ambassador Jose Santiago Santa Romana will engage in a "friendly dialogue and consultations" on topics related to the South China Sea in the city in Guizhou province, Foreign Ministry spokeswoman Hua Chunying said on Tuesday.