Cloudwise has secured a $60 million Series D3 round funding led by CITIC Private Equity Funds Management, while Wuhan FineMEMS Inc. has garnered 200 million yuan ($30 million) in a Series D round of financing from SBCVC, Changing Innovation Investment, and FG Venture.
Cloudwise raises $60m in a Series D3 funding round
Corporate digital solutions provider Cloudwise said on Tuesday that it has pocketed $60 million in a Series D3 round funding led by CITIC Private Equity Funds Management, an alternative asset manager co-launched by state-owned CITIC Group and over 200 investors in 2008.
A clutch of new investors participated in the latest round including new economy based V Fund, Shenzhen-listed Guangzhou Yuexiu Financial Holdings, CICC Capital, Zhongnan Group’s investment arm Zhongnan Capital, and tech-innovation driven CR Capital.
Existing backers Sequoia Capital China, ASG, and Zhejiang United Investment Group (ZUIG) also re-upped in the fresh fundraising round, Cloudwise said on WeChat.
With the fresh funding, Cloudwise will strengthen its DevOps, product manufacturing, solutions and services systems, and the business ecosystem.
Headquartered in Beijing, Cloudwise is a specialist in digital solutions dedicated to delivering intelligent business operations and maintenance services and applications to enterprises. The cloud-based provider claims to have provided services to clients from internet, manufacturing, transport, energy, and finance, among other sectors.
Aside from a domestic market spanning over 20 cities, Cloudwise has ramped up efforts to expand in Singapore and Hong Kong.
Before the current round, Sequoia Capital China had teamed up with ZUIG, WestSummit Capital, and Gongqingcheng Xingchuang together pouring $25 million for Cloudwise’s Series D round in 2019. In addition, Sequoia Capital China had also participated in its Series C round in 2017, Series B+ round in 2015, and Series B round in 2014.
SoftBank backs FineMEMS’s $30m Series D round
MEMS sensors and system products supplier Wuhan FineMEMS Inc. has garnered 200 million yuan ($30 million) in its Series D round of financing from SoftBank China Capital (SBCVC), Changjiang Securities’ joint fund Changing Innovation Investment, and existing investor FG Venture, per a company statement on Tuesday.
FineMEMS completed its Series C+ round of financing exclusively from Chinese semiconductor-focused investment firm CTC Capital on Monday.
Set up in 2011 in Central China’s Hubei province, FineMEMS uses mechanics model packaging technologies and algorithms to produce new generation MEMS sensors and others tools, which primarily cater to the automotive, internet of things (IoT), smart home appliances, and industrial control sectors.
Its top clients include Chinese automobile majors such as BYD, Great Wall Motors, Geely, and Ford, the company said.
FineMEMS’ early-stage investors also includes SIG China. The backer had solely invested 30 million yuan ($4.6 million) in FineMEMS’ Series A round in 2012. Subsequently, in 2015, it joined hands with Shanghai-listed Ningbo Tianlong Electronics infusing an undisclosed Series B round funding in FineMEMS.