Chinese data analytics firm Kyligence Inc has raised $70 million in its Series D round of funding led by Shanghai Pudong Development Bank’s offshore investment bank SPDB International.
CICC Capital’s sub-fund along with wealth management player Gopher Asset Management, state-backed Shanghai International Group’s funds of funds Guofang, American family office ASG, Jumbo Sheen Fund, and Shanghai Trust’s Puxin Capital joined the latest round.
Return backers – Shunwei Capital, Redpoint China Ventures and Eight Roads – made a follow-on investment in the Series D round. The three investors had partnered with Coatue Management to inject $25 million in Kyligence’s Series C round in 2019.
In 2018, Shunwei, Redpoint, and Eight Roads had along with CBC and Cisco invested $15 million in the firm’s Series B round.
Index Capital facilitated the transaction, the investee said in a statement.
The firm will use the proceeds for marketing, business ecosystem development, overseas expansion, and technology innovation.
Founded by professionals who created Apache Kylin, an open-source online analytical processing (OLAP) for big data apache projects in 2016, Kyligence leverages AI-augmented data analytics to accelerate critical business decisions globally.
With dual headquarters in San Jose and Shanghai, the company’s data cloud products and solutions are used by nearly 100 global clients including Swiss investment bank UBS, Xactly, Ping An Bank, China UnionPay, SPD Bank, SAIC Motor, among others.
Kyligence expects to further enhance its market presence in Europe and the Asia-Pacific, it said.