Oray has raised $40 million in a new round of funding led by GL Ventures, while Vika has closed over $10 million in its pre-Series A and pre-Series A+ rounds of funding from GL Ventures, and 5Y Capital, among others.
Oray raises $40m led by GL Ventures
Asia-focused PE firm Hillhouse Capital’s venture unit GL Ventures has led a $40 million funding in Chinese software-as-a-service (SaaS) solutions provider Oray, per a company statement on Monday.
The round was joined by new investor Tencent and existing backer Gaocheng Capital. The latter had exclusively pumped in ‘tens of millions of US dollars’ in lieu of equity in Oray in July 2020.
Oray will use the funding to spruce up its technology, expand its presence in the overseas market and recruit talent.
Oray, which believes connectivity is everywhere, is a specialist in internet of things (IoT) – it claims to create multi-functional and smooth IT infrastructure for small to medium-sized companies.
GL Ventures, 5Y back Vika
Data-driven software startup Vika said on Monday that it has completed its pre-Series A and pre-Series A+ rounds of funding, raising over $10 million.
The pre-Series A round was led by tech innovation-focused investment firm Eminence Ventures with the participation of existing investor 5Y Capital. Its pre-Series A+ round was led by GL Ventures and joined by Eminence and 5Y Capital.
5Y Capital had earlier invested ‘millions of US dollars’ in Vika’s angel+ round in October 2020. Prior to that, in 2019, IDG Capital and mass consumption-focused Tiantu Capital had collectively seeded nearly 10 million yuan ($1.5 million) in Vika’s angel round.
Headquartered in Southeast China’s Shenzhen, Vika provides new generation data software to enterprises.