<article><a href="https://www.dealstreetasia.com/?s=kingsoft+cloud">Kingsoft Cloud Holdings Limited</a>, the third largest cloud computing service provider in China, has raised $300 million in a series D round, at a valuation up to $1.9 billion.</article>

<a href="https://www.dealstreetasia.com/?s=kingsoft+cloud">Kingsoft Cloud Holdings Limited</a>, the third largest cloud computing service provider in China, has raised $300 million in a series D round, at a valuation up to $1.9 billion.
The investors in this round include its Hong Kong-listed parent firm <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=kingsoft+">Kingsoft</a>, Chinese private equity firm Liyue Investment and China Minsheng Investment.
Kingsoft subscribed to 176.77 million preferred shares in Kingsoft Cloud for $150 million, China Minsheng subscribed 58.92 million preferred shares for $100 million and Liyue Investment 117.85 million preferred shares for $50 million.
After this round, Kingsoft said in a filing its interest in Kingsoft Cloud will be diluted from 52.29 per cent to 51.93 per cent.
Kingsoft Cloud recorded the revenue of RMB358.1 million, a surge of 80 per cent year on year. It has achieved a market share over 6.5 per cent in the Chinese public cloud IaaS market, according to IDC’s China Semiannual Public Cloud Services Tracker Report 1H2017.
<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=alibaba+cloud">Alibaba Cloud</a>, the market leader, accounted for 47.6 per cent of the total market share, while <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Tencent+Cloud">Tencent Cloud</a> made up for 9.6 per cent in the first half of this year.
Kingsoft Cloud plans to use the proceeds to develop artificial intelligence and expand its video and gaming business. It targets to boost the revenue to RMB10 billion ($1.51 billion) in the next three years and gain 30 per cent market share in the Chinese public cloud service market.
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Kingsoft Cloud Holdings Limited, the third largest cloud computing service provider in China, has raised $300 million in series D round.

China: Kingsoft Cloud secures $300m series D round, post-valuation to $1.9b

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China: Kingsoft Cloud secures $300m series D round, post-valuation to $1.9b

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