<article>Cloud technology services provider Kingsoft Cloud Group has raised about $50 million in a Series C+ round, led by a fund backed by <a style="color: #000080;" href="http://www.newone.com.cn/en/en" target="_blank">China Merchants Securities</a>.</article>

Cloud technology services provider Kingsoft Cloud Group has raised about $50 million in a Series C+ round, led by a fund backed by <a style="color: #000080;" href="http://www.newone.com.cn/en/en" target="_blank">China Merchants Securities</a>.
The company had raised $60 million in a Series C round only three months ago.
Its Hong Kong-listed parent, Chinese software firm <a style="color: #000080;" href="http://www.kingsoft.com/" target="_blank">Kingsoft</a>, said in an exchange filing that China Merchant Securities fund will subscribe 34 million preferred shares of Kingsoft Cloud for $20 million in the deal.
Kingsoft also participated in the round, and increased its shareholding in its cloud computing unit from 51.83 per cent to 52.15 per cent on a fully diluted basis.
Kingsoft will continue to be the controlling shareholder, viewing cloud computing unit as a key pillar in its future businesses.
Established in 2012, Kingsoft Cloud previously raised $20 million series A round in 2013, and $66.6 million in March 2015. In February, Kingsoft Cloud raised $60 million from parent Kingsoft, <a style="color: #000080;" href="http://www.idgvc.com/en/" target="_blank">IDG Capital Partners</a> and an entity associated with<a style="color: #000080;" href="http://www.chinaamc.com.hk/portal/HKen/home/index.shtml" target="_blank"> China Asset Management Co., Ltd</a>.
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Kingsoft Cloud raises $50m Series C+, led by China Merchant Securities fund

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Kingsoft Cloud raises $50m Series C+, led by China Merchant Securities fund

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