China-based cloud computing and big data technology provider City Cloud International secured RMB300m ($43.2m) on Monday in a series C round backed by real estate developer Greenland Holdings.
Founded in 2012, City Cloud has developed cloud computing software that helps small and medium-sized enterprises (SMEs) and local governments leverage big data technology to manage smart cities and industrial projects.
The company claims its smart connected community platforms and cloud computing services have been used by more than 100,000 SMEs in China.
As as part of the deal, Greenland has partnered City Cloud to look at opportunities in artificial intelligence-enabled smart cities, smart offices and smart hotels, according to a statement on the company’s WeChat account.
City Cloud received $30m in a late 2017 series B round co-led by networking technology provider Cisco, which took part through its Cisco Investments unit, and property developer Country Garden Holdings.
The company has not revealed details of its earlier financing, though Cisco had previously supplied it with an undisclosed amount of series A funding, according to China Money Network.