China-based internet communications technology developer AgotoZ closed a series C round featuring quantitative trading firm Susquehanna International Group’s SIG China unit at almost RMB500m ($78m) yesterday.
China Capital Investment Group led the round, which included Legend Capital – the venture capital firm formed by conglomerate Legend Holdings – as well as NGP Capital, Creo Capital and Siguler Guff & Company.
Founded in 2017, AgotoZ is developing network-as-a-service technology that helps organisations access digital networks including the cloud in a bid to create an interactive remote working environment.
The company will use the cash to improve its technology, strengthening including real-time cloud data and application access and network flexibility in addition to building new product iterations.
Legend Capital had led AgotoZ’s $39m series B-plus round in late 2019, investing alongside SIG China and Northern Light Venture Capital (NLVC).
AgotoZ had closed a $15m series B round in July the previous year led by SIG China and backed by NLVC. It came six months after the latter had led a series A of undisclosed size for the company.
