GGV-backed Chinese SaaS startup Black Lake raises $22m in Series B

Chinese Yuan notes. Photo: Reuters

Black Lake Technologies, a Chinese industrial data-analysis startup backed by US- and Shanghai-based venture capital firm GGV Capital, has raised Rmb150 million ($22.1 million) in its Series B funding round, jointly led by GSR Ventures and Bertelsmann Asia Investments, according to an announcement on Monday.

Existing investor GGV Capital, which backed the company’s Series A round in 2017, and ZhenFund, a Beijing-based seed fund launched by co-founders of Chinese private educational services provider New Oriental, also participated in the round.

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