China-based data mining software provider MiningLamp has closed a $200m series E-plus round that included internet group Tencent.
Russia-China Investment Fund led the round, which also featured entertainment holding company Shanghai Oriental Pearl Group’s Oriental Pearl Media Industry Equity Investment Fund and financial services firm United Overseas Bank’s UOB Venture Management unit.
China Sky Global, Hundreds Capital and Greater Bay Area Homeland Investments filled out the round along with Citic Securities Investment, a subsidiary of brokerage firm Citic Securities.
MiningLamp has developed technology that uses artificial intelligence, machine learning and natural language processing to help corporate customers enhance their marketing and customer recommendation activities.
Tencent, Oriental Pearl and Citic Securities are set to form an industry ecosystem with MiningLamp in connection with their participation in the round.
Sequoia Capital led the company’s $30m series B round in 2016, investing with networking technology provider Surfilter Network Technology, Share Capital and existing backer Heaven-Sent Capital Management Group.
Tencent’s Industrial Capital unit co-led a $159m series C round for MiningLamp in 2018 with China Renaissance’s New Economy Fund. It added $297m in a March 2019 series D led by Tencent and backed by China Renaissance’s Huaxing Growth Capital and Avic Trust.
Tencent and Temasek subsequently co-led MiningLamp’s $300m series E round, which included video streaming app developer Kuaishou, in March this year.
