Chinese industrial internet security service provider Beijing Liufangyun Technology Company Limited, also known as 6cloud Tech, on Friday announced the completion of a new round of financing running into ‘millions of US dollars.’
The fresh round was joined by new investor China Science and Techinnovation Capital Management (CSCT) and existing backer Topping Capital. Cipher Capital served as the financial advisor.
The proceeds will be used for product research and market expansion.
Founded by Zengqiang Ten in 2018, 6cloud’s products serve the smart manufacturing, energy and power, rail transit, tobacco, education sectors among others.
Earlier in April, 6cloud secured its Series B round from Topping Capital, Fortune Capital, CSC Group and Infore Holding. Back in 2018, it had raised ‘millions of USD dollars’ in its Series A round funding from Sharewin Investment.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 16-17, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|UMU Technology||Beijing||14 million||B||Gaocheng||-||EdTech|
|Instruction Set||Hangzhou||14 million||A||-||Zhejiang Paradise Silicon Valley Asset Management Group||Internet of Things|
|Stroke Care||Shanghai||* 10 million||C||-||Sherpa Healthcare Partners, Lyfe Capital||HealthTech|
|Soterea||Tianjin||* 10 million||A||SK China||-||Autonomous Driving|
|InnerMedical||Shenzhen||* 1.4 million||-||Efung Capital||-||HealthTech|
|Hangzhou Lifereal Biotechnology||Hangzhou||* 1.4 million||A+||Zheshang Venture Capital's innovation fund||-||HealthTech|
|iRegene||Wuhan||* 1.4 million||Pre-A||-||Humanwell Healthcare's Group's industrial fund, Hua Fang Investment||Biotech|
|6cloud Tech||Beijing||* 1.4 million||-||-||China Science and Techinnovation Capital Management (CSCT),Topping Capital||Internet of Things|
|Wasee||Shanghai||1.4 million||Angel||Wondertek||-||AR & VR|
|Fast Line||Shaoxing||-||Strategic Investment||Hikvision||-||Big Data|
|Biren Technology||Shanghai||-||-||China Fortune-Tech Capital||-||N/A|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example.