California-based furniture maker Nova Lifestyle plans to launch an e-commerce platform targeting Chinese.

Nova Lifestyle has recently completed an $8.95 million registered direct offering which will underwrite its Chinese e-commerce foray, the company says.

“This transaction not only allows us to further expand our investor base, but also provides sufficient capital that will support our key 2014 growth initiatives of expanding our global distribution and increasing our sales of higher-margin branded products, through our supply agreement with Ikea for China, and Home Centre in the Middle East, as well as the development of our e-commerce platform targeting the China market,” said Nova Lifestyle president Tawny Lam.

“We expect these initiatives to contribute significantly to both our sales and profitability in fiscal 2014 and fiscal 2015.”