Chinese AI firm Enflame raises $279m in Series C round from Tencent, others

Enflame

Shanghai-based AI cloud computing startup Enflame has raised a total of 1.8 billion yuan ($279 million) in its Series C round, according to an announcement.

Last June, Enflame raised an undisclosed sum as part of its Series C round from state-backed Yun He Capital and YTI Capital.

The latest tranche of the Series C funding is jointly led by CITIC Private Equity Funds Management, CICC Capital’s sub-fund and Primavera Capital while existing investors Tencent, Redpoint Ventures China, and SummitView Capital, too joined the round.

Tencent, Redpoint Ventures, SummitView, and others had collectively invested 700 million yuan ($108 million) in Enflame’s Series B round in May 2020. Besides, Tencent also participated in Enflame’s Series A round in 2019 and pre-Series A round in 2018.

Enflame, co-founded by Yalin Zhang and Lidong Zhao, banks on cloud-computing algorithms to deliver solutions to its clients in areas of internet, finance, and smart city, among others.

Enflame’s previous investors include ZhenFund, Hong Kong-based Oceanpine Capital, state-backed Shanghai S&T Investment, PE firm ChinaEquity Group, and technology-focused Delta Capital, among others.

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.