YanRong Tech has closed a 120 million yuan ($19 million) funding in its Series A+ round led by Oceanpine Capital. In a separate development, NYSCPS has raised $10 million in its Series A+ round from Sinovation Ventures and others.
YanRong Tech nets $19m in Series A+
China’s next-generation cloud storage solutions developer YanRong Tech has closed a 120 million yuan ($19 million) funding in its Series A+ round led by Oceanpine Capital, per a company statement on Wednesday.
The Series A+ round saw the participation from Shenzhen-based Cowin Capital and UCAP – Oceanwide Fund, a joint fund co-launched in 2020 by UCAP Cloud Information Technology and China Oceanwide.
Existing investor Glory Ventures, a deep-tech VC firm, also joined the current round.
Technology-focused Winsoul Capital facilitated the transaction.
Yan Rong plans to use the corpus to develop its technology, products, service supports, markets and partnerships.
Yan Rong started its operation in 2016 in Beijing. Its flagship product YRCloudFile helps industries to better manage their databases. Its clients include state-owned China Mobile, Bank of China, TuSimple, and Rootcloud, among others.
Yan Rong’s early-stage backers also include Sunyard System Engineering’s investment arm Sunyard Investment and Score Capital.
Sinovation leads $10m funding in NYSCPS
Sinovation Ventures led a $10 million Series A+ funding round in oral care brand NYSCPS, according to a company statement on Wednesday.
TMT focused Crystal Stream Capital and returning investor Plum Capital, too, joined the round. Investment bank Mountain View Capital served as the financial advisor for the transaction.
The proceeds of the funding will be used to spruce up its oral care products.
Managed by Shenzhen Xiaokuo Technology, the nearly 6-year-old NYSCPS produces high-end oral care products such as toothpaste, mouthwash and distribute by e-commerce channels like Alibaba’s Tmall and Pingduoduo.