China Digest: Fosun RZ invests in T2 Cloud; iTrigger.cn raises $15m series A

Cloud solutions provider T2 Cloud has raised $16.4 million in a series B round while Hangzhou-based cloud computing technology company iTrigger.cn has grabbed $15 million in a series A financing.

Fosun RZ Capital backs T2 Cloud

Venture capital firm Fosun RZ Capital has led a $16.4 million series B+ round for T2 Cloud, a report by China Money Network revealed. The round was also joined by Qianhai Fund of Funds.

Based in Beijing, T2 Cloud provides private cloud, mixed cloud and industrial cloud solutions for enterprise customers.

Last month, Fosun RZ Capital made a $15 million Series A investment in Alilo, a developer of digital products for early childhood education. Alilo’s product line includes a toy for toddlers that has all the popular nursery, rhymes, bedtime stories and lullabies.

Fosun RZ focus is on industrial Internet and high technology sectors, mainly in finance, education, medical care, automotive and enterprise services. Big data driven consumer financing platform Quant Group, mobile big data firm Jiguang and online education platform Uniquedu.com are part of its portfolio.

Alibaba Group leads round in iTrigger.cn

Jack Ma’s Alibaba Group has led a $15 million series A for iTrigger.cn, with participation of Vision Plus Capital and Yinxinggu Capital.

iTrigger.cn is a Hangzhou-based cloud computing technology company, focusing on providing Sofware-as-a-Service, CRM/ERP systems and other data management tools in the retail industry.

Alibaba Group along with Yunfeng Capital injected a RMB1 billion ($140 million) strategic investment in Chinese cloud services firm Qiniuyun in August this year. Qiniuyun reportedly said it will remain independent post the investment, and use the proceeds to perfect its cloud storage, big data and artificial intelligence technologies.

The Chinese cloud computing industry is projected to reach RMB75 billion ($11 billion) in 2017 and jump to about $20 billion by 2020.

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