China Digest: Tencent backs Alauda; Fosun RZ Capital puts $15m Series A in Alilo

Illuminated commercial buildings are seen from the observation deck of the Oriental Pearl Tower at night in the Lujiazui Financial District in Shanghai, China, on Friday, Oct. 13, 2017. Photographer: Qilai Shen/Bloomberg via Getty Images

Internet service firm Tencent Holdings has led a $15 million funding into cloud computing service firm Alauda. Meanwhile, developer of digital toys for toddlers, Alilo, has raised a $15 million Series A from Fosun Group backed VC firm, Fosun RZ, the China Money Network reported.

Tencent backs cloud computing firm Alauda

China’s Internet service major, Tencent Holdings, has led a $15 million Series B investment in an enterprise-focused cloud computing service, Alauda.

The Beijing-based firm covers sectors including financial, manufacturing, aviation, energy and automotive.

Others who participated in the round include China’s Banyan Capital and Beijing based growth stage focused CBC Capital with interests in fintech, cloud computing and consumer internet.

The investment will be made via QCloud, owned by Tencent.

Fosun RZ Capital puts $15m in Series A in Alilo

Fosun RZ Capital, the venture capital arm of Shenzhen-based conglomerate Fosun Group, has 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 are part of its portfolio.

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