Beijing Wenge Group has garnered 200 million yuan ($29 million) in a Series C round of financing led by state-owned Shenzhen Capital Group. Meanwhile, Nanjing eCloud Technology (eCloudTech) has secured ‘millions of US dollars’ in Series A+ round of funding from Lenovo Capital and Gaorong Capital.
Shenzhen Capital leads $29m Series C round funding in Wenge
Beijing Wenge Group (aka Wenge Tech), a subsidiary of China Academy of Sciences, announced the completion of 200 million yuan ($29 million) in a Series C round of financing led by state-owned investment firm Shenzhen Capital Group.
Other new investors who participated in the round include the Chinese Academy of Sciences Holdings, Cash Holdings, JC Capital, FH Capital and Institute of Automation, Chinese Academy of Science-backed investment fund. Returning backers Casstar and Youbang Investment also joined the round, it said in the statement.
Casstar, Youbang and Qianhai Hengbang had invested nearly 100 million yuan ($14 million) in its Series B round in May 2019. Earlier in 2018, Casstar had teamed up with Blue Ocean Capital Group to invest in its Series A round.
eCloudTech snags new funding led by Lenovo Capital
Conceptual-data-model (CDM) driven big data service provider Nanjing eCloud Technology (eCloudTech) has secured ‘millions of US dollars’ in its Series A+ round of funding led by Chinese technology giant Lenovo Group’s corporate venture firm Lenovo Capital, the former posted on WeChat on Thursday.
The round was joined by emerging economy focused Gaorong Capital.
eCloudTech will invest in cloud data management, ecosystem innovation, data service automation, database upgrade and marketing expansion.
It previously closed ‘millions of US dollars’ Series A round fundraising in 2019 from ShenZhen Co-Stone Asset Management and Orient Fortune Capital.