China-based digital technology provider DeepExi has collected $40m in a series A4 round that included Bertelsmann Asia Investments (BAI) a corporate venturing unit for media group Bertelsmann.
The round was led by SPDB International, an investment banking subsidiary of financial services firm SPD Bank, and also featured state-backed property developer Shanghai Lingang, Chuxin Capital, Hillhouse Capital, IDG Capital, 5Y Capital and Lighthouse Capital.
Founded in 2018, DeepExi has developed software that uses big data, artificial intelligence, cloud computing and internet-of-things technology to help enterprise customers with their digitalisation processes.
The funding will support Deepexi’s research and development activities as well as its commercial penetration in the financial sector.
In June this year, the company raised $50m in a series A-plus round co-led by BAI, Sanxia Xintai Investment and Hillhouse Capital vehicle GL Ventures that included 5Y Capital (then Morningside Venture Capital), Chuxin Capital, Lighthouse Capital and IDG Capital.
DeepExi’s $35m series A round was closed in September 2019 and was co-led by Hillhouse Capital, Morningside Venture Capital and IDG Capital, while BAI, Chuxin Capital and Lighthouse Capital also invested.
The company had previously received about $14m across an IDG Capital-led round in 2018 and a March 2019 round featuring IDG Capital and Gaocheng Capital, according to DealStreetAsia.