Alibaba Cloud, the cloud computing unit of Alibaba, plans to buy Beijing-based cybersecurity startup Chaitin Tech, while Chinese education books distributor Zifeng Culture has closed $14 million in a Series C funding round.
Alibaba Cloud to buy out cybersecurity startup Chaitin Tech
Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba, will buy out Beijing-based cybersecurity startup Chaitin Tech, the startup announced in a statement on its WeChat official account on Friday.
Financial details of the deal were not disclosed. Chaitin Tech will operate independently but will leverage the support of Alibaba Cloud’s technology, capital, and businesses to expand, according to the statement.
“Alibaba Cloud will be able to largely enhance the capability of its customized cybersecurity services to government and corporate clients,” said Chaitin Tech. “Chaitin Tech can also utilize Alibaba Cloud’s powerful cloud resources and data capabilities to help enterprises grasp the key security links in the increasingly complex IT environment and effectively enhance the value of our products in building security.”
Chaitin Tech, founded in 2014, provides cybersecurity solutions to enterprises including private cloud developers, financial service companies, and operators of high-traffic websites.
Before the acquisition, Chaitin Tech had raised five funding rounds from investors including Chinese ride-hailing giant Didi Chuxing, Beijing-based seed fund ZhenFund, and Chinese venture capital firm Qiming Venture Partners.
Most recently, Matrix Partners China poured 100 million yuan ($14.07 million) into its Series B round in July 2018.
China’s Certain Capital leads $14m Series C round in Zifeng Culture
Zifeng Culture Development Limited, a Chinese firm providing reading materials and workbooks to primary and secondary students, has raised nearly 100 million yuan ($14.07 million) in a Series C round of financing led by Chinese investment firm Certain Capital.
Certain Capital poured 60 million yuan ($8.45 million) into the investment. Beijing-based Sensegain Asset Management also participated in the new round, said Certain Capital in a statement released on its WeChat official account on Friday.
Zifeng Culture, founded in August 2007 and based in Beijing, connects with large-scale publishing houses to offer reading materials and workbooks to primary and secondary schools and students in China. The company also provides delivery services.
The company claimed to have cooperation with nearly 300 publishing houses, including state-owned People’s Publishing House, with the exclusive right to promote and distribute thousands of books as of June 30, 2019.
The company will use the proceeds to further develop its book distribution business and speed up its domestic expansion.