China-based memory card manufacturer Memblaze has raised $20m in a series C round led by Bertelsmann Asia Investments, China Money Network reported yesterday citing reports in the local media.
Bertelsmann Asia Investments is the regional corporate venturing unit of Germany-based media group Bertelsmann. The round also included investment firms Genertec Investment Managers and Infinity Group, and Ding Xing Fund, which is managed by telecommunications firm ZTE
Memblaze produces high-speed storage cards. The funding will be allocated to research and development,and marketing for its future flash memory products. Cash will also be set aside to strengthen the company’s supply chain for expansion into international markets.
The company raised “tens of millions RMB” in series B funding from Infinity Group in 2013. Infinity also invested RMB 20m ($3.2m) in Memblaze’s series A round in 2012 alongside Z-Park Venture Capital.