Tencent co-leads big data firm MiningLamp’s $159m Series C round

REUTERS/Aly Song

China Renaissance’s Huaxing Growth Capital and Tencent Holdings have led an RMB1 billion ($159 million) Series C funding round into Beijing-based big data analysis solutions provider MiningLamp Software, according to China Renaissance’s official WeChat account.

Established in April 2014 by AI expert Wu Minghui, China-based MiningLamp Software specialises in big data business solutions. Its products include LiteMind, a human-robot interaction system, and Nest, a database that can store and search data and images.

“We interviewed banks, police and public transportation companies and were surprised that many traditional firms are already embracing big data,” China Renaissance managing director Du Yongbo was quoted as saying in a China Money Network report. “But many companies complain that they have difficulty finding data service providers, which provides opportunities for MiningLamp.”

The Beijing-based startup had earlier raised RMB200 million ($30 million) in a Series B round led by Sequoia Capital China and joined by Share Capital, Surfilter Network Technology Co., Ltd, and Heaven-Sent Capital Management Group Co. in 2016.

China Renaissance Group offers private placement advisory, M&A advisory, securities underwriting, research, sales and trading, investment management and other financial services across mainland China, Hong Kong and the United States.

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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.