Chinese management funds Oriza Holdings and CICC Alpha have led a RMB 960 million ($139 million) series D round in UCloud Information Technology, a Shanghai-based cloud service provider.
UCloud will use the fresh capital to expand its research team and build infrastructure, as well as develop its artificial intelligence, a press statement said.
The funding round follows an announcement on the startup’s latest solution called “UCloud Yun Han,” which includes global solutions, AI solutions, security solutions, and big data computing solutions for public, private, and hybrid clouds, as well as specialty clouds for interactive video and finance.
Founded in 2012, UCloud has 17 data centers in China, Asia-Pacific, North America, and Europe, as well as 11 domestic offline service stations. It has more than 50,000 customers – consisting of companies and individuals – who are in various industries such as retail, manufacturing, finance, gaming, and e-commerce.
Previously, UCloud received an “eight-digit” US dollar-denominated series A funding from Bertelsmann Asia Investments and DCM in 2013. Later in 2014, it won another $50 million series B from Legend Capital. It was then followed by $100 million series C in 2015 before securing the latest series D from CICC Alpha and Oriza.
CICC Alpha is a direct investment unit of China International Capital Corporation Limited (CICC). It manages several funds which focus on new industries, including internet, consumer, healthcare, media, manufacturing 4.0, and Green economy, with an investment scope that covers angel to mature companies.
Meanwhile, Oriza and its subsidiaries offer private equity investment services, including debt financing, PE consulting, and investment management services. It invests in firms in travel, manufacturing, and semiconductors.