TerraQuanta, a China-based big data platform developer backed by quantitative trading firm Susquehanna International Group (SIG), has raised an undisclosed amount of series A-plus funding.
The round was led by venture capital firm Shunwei Capital and followed a RMB50m ($7.6m at contemporary rates) series A round in November 2020 led by Orchid Asia Group Management that also featured SIG Asia Investment, a regional investment arm of SIG.
Founded in 2017, TerraQuanta is working on an artificial intelligence-powered software tool that leverages remote sensing satellites to help users with data management.
The cloud-based platform can be used across areas such as agriculture, environmental protection, finance, electrical grids and petroleum refining.
SIG took part in a 2019 pre-series A round for TerraQuanta sized in the millions of dollars. It came after nearly RMB10m ($1.5m at contemporary rates) in funding from Decent Capital.
