Eight Roads leads $15m round for Chinese data analytics firm Kyligence

Eight Roads Ventures, the investment arm of Fidelity International, has led the $15-million funding round in Shanghai-based data analytics firm Kyligence.

In a statement posted on its website, Kyligence said the latest round of financing, the third since the company’s founding in 2016, was joined by other investors including Redpoint, Cisco, China Broadband Capital, and Shunwei Capital.

According to Luke Han, founder and chief executive of Kyligence, the latest funding round underscored investors’ high expectations for new technologies. Kyligence, which is headquartered in Shanghai and US, has so far raised $25 million in total.

The company provides data intelligence services with a focus on big data and analytics. It was founded by the team that created Apache Kylin, an open source OLAP for Big Data project. Its customers include Huawei, OPPO, China Unicom, China Pacifica Insurance Group, China UnionPay, China Mobile, and SAIC.

“With this investment, Kyligence will continue to disrupt data analytics industry leveraging its game-changing product and technology, and further expanding sales and marketing teams globally,” the company said.

Kyligence plans to use the fresh financing to increase investment in product research and expansion in overseas markets, including the US and Europe.

Joe Chang, Partner at Eight Roads China, said Kyligence’s ability of pre-processing massive datasets via cube processing and AI augmentation was “impressive”.

“Our investment follows our core investment thesis that the rise of big data and the increasing scale of data will require disruptive and innovative technologies to deal with emerging challenges that legacy IT cannot address,” Chang said.

According to data cited by Kyligence, data warehouse and business intelligence industry is facing a huge challenge as the speed of data generation has picked up tremendously, and existing analytics tools cannot handle data volume and complexity efficiently.

The current approaches require a lot of manual work of data preparation, and analysts with these special skills are in short supply, which has slowed down the speed of delivering analytic insights, it added.

Eight Roads, the lead investor in Kyligence’s latest funding round, is one of the region’s earliest venture capital funds. With teams in China, Japan, UK, India and the US, it currently has investments in over 175 portfolio companies with a team of 70 investment professionals, 30 of whom focus on China investments.

In April, the firm announced the launch of a $275-million fund dedicated to Chinese tech startups.

Also Read:

Eight Roads Ventures launches $275m China tech fund

China’s Sensors Data secures $44m funding led by Warburg Pincus affiliate

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.