Private equity firm Doll Capital Management (DCM) and Bertelsmann Asia Investments, the Asia-focused corporate venturing unit of the German media group Bertelsmann, have invested $10m in a series A round of funding for UCloud Information Technology. The IaaS business that targets SMEs to build their scalable IT infrastructures through cloud computing will use the funds to accelerate R&D, marketing and infrastructure building costs, such as servers.
At present, UCloud’s customer base consists mainly of companies specialising in gaming, mobile apps, and e-commerce where cloud computing is seriously gearing up to sustain customer demand of large data across multiple customer markets.
China’s media press first reported the news following confirmation by UCloud’s chief executive officer Ji Xinhua in a Chinese-only statement that the deal had been completed.
According to deal news site, Technode, investors were attracted to the development prospect of the IaaS business and were confident in the executive and technological skill base of the management team. Founded in 2011, the team consists of former employees from big names such as Huawei, Shanda, Neusoft and Tencent.
The firm currently claims thousands of premium users who mainly engage in gaming service and e-commerce industries, such as HXYX and JJSG.
Ucloud launched Southeast Asia Data Center recently with Hong Kong’s largest telecommunications carrier, HGC, to explore the Southeast Asia market. The collaboration was struck to meet the mobile gaming needs of South East Asia.