Shenzhen Authine Network Technology, a China-based IT services provider backed by e-commerce group Alibaba, has closed a RMB100m ($14.9m) series B round, China Money Network has reported, citing a company statement.
Venture capital firm Gaorong Capital led the round, which followed an eight-figure renminbi sum from undisclosed investors in a 2017 series A round, and a $7.45m series A-plus round led by Alibaba in 2018 according to China Money Network.
Authine provides a range of software and IT products for enterprises, sourced from a network of software developers, service providers and vendors. It will allocate the series B funds to market expansion, product development and the exploration of the commercial viability of low-code based products.
