Internet and gaming group Beijing Kunlun Technology has taken part in China-based customer messaging platform developer Leyan Technologies’ RMB150m ($21.1m) series C1 round, China Money Network reported yesterday.
Venture capital firms Blue Lake Capital and Eastern Bell Venture Capital co-led the round, which included Ivy Capital, Yunfeng Capital and ZWC Partners.
Leyan was founded in 2016 and is working on artificial cognitive intelligence technology that will support customer service in e-commerce and other industries. Its products have been used by some 20,000 merchants.
The series C1 cash will go toward improving and further commercialising the company’s existing products and hiring engineers for its artificial intelligence team.
ZWC Partners sponsored a series B round of undisclosed size for Leyan in 2019, according to business data aggregator Tianyancha, and China Money Network reported that it had raised an undisclosed amount of series A-plus funding from investors including Yunfeng Capital the year before.
The company had already received $2.2m from Ameba Capital, Ivy Capital, Shanghai Minhang District Finance Bureau and Yimei Capital in an August 2017 series A round, following $650,000 in a Chuxin Capital-backed pre-series A round six months earlier, and $430,000 from Chuxin Capital and Ameba Capital in 2016, according to PEdaily.
