XYLink has raised 400 million yuan ($60 million) in a Series D round led by Qi An Xin, while Beijing Huatec Information Technology has garnered 292 million yuan ($44 million) from China Reform Culture Holdings.
Qi An Xin leads $60m Series D in XYLink
Cloud communication service platform XYLink Inc has raised a 400 million yuan ($60 million) Series D round led by Qi An Xin, a cybersecurity major that was spun out of leading internet security group Qihoo 360 in 2016, per a company statement on Wednesday.
The funding round was joined by state-owned Shanghai International Group’s Shanghai Guohe Capital and GP Capital, besides Dunhong Capital Management.
With the fresh round of financing, XYLink will look to support its developments toward technology and products, as well as to expand the applicable scenarios.
Set up in 2016, XYLink specialises in intelligent video conference services driven by cloud computing, and AI, among others. With six research centres in the country, XYLink caters to more than 100,000 clients across finance, banking, insurance, government administration, healthcare, petroleum, and education, it said.
The founder Xingguo Zhao is the largest shareholder in XYLink with a 17.47 per cent stake. Other major shareholders include Tencent (11.27 per cent), Lightspeed China Partners (7.95 per cent), Sinovation Ventures (7.68 per cent), ZhenFund (1.27 per cent), and Shanghai Guohe Capital (0.97%).
Tencent Investment had exclusively injected “tens of millions of US dollars” in a Series C round of funding in XYLink in 2019.
Huatec bags $44m from China Reform Culture Holdings
Education technology company Beijing Huatec Information Technology Co., Ltd said on Thursday that Shanghai-listed, state-owned China Reform Culture Holdings has made a strategic investment of 292 million yuan ($44 million) in Huatec.
Education-focused boutique investment bank Taoli capital served as the financial advisor. The parties will team up to upgrade Huatec’s infrastructure and services, it said.
Headquartered in Beijing, Huatec is a specialist in delivering smart learning and training solutions for the education industry. It uses new generation technologies such as 5G network, cloud computing, big data, and internet of things (IoT) to develop a one-stop service for higher education institutes.
In 2019, Huatec had annual revenues of 354 million yuan ($53 million) and a net profit of 43.97 million yuan ($6.6 million).
The company is backed by Fortune Capital, Jihe Investment, and Beijing Jirui Investment, among others.