China-based database software provider PingCap has raised an undisclosed amount of funding from investors including Bertelsmann Asia Investments (BAI), a vehicle for media group Bertelsmann, 36Kr reported yesterday.
Singaporean sovereign wealth fund GIC co-led the round with venture capital firms Sequoia Capital and Future Capital Discovery Fund, and it also featured 5Y Capital, Yunqi Partners and GGV Capital.
PingCap is the developer of an open-source cloud database platform which enables organisations to store large amounts of data and perform analytics on it without overburdening their local servers.
Matrix Partners China and Yunqi Partners were among the company’s earlier investors, in 2015 and 2016 respectively, and they returned for a $15m series B round in 2017 led by China Growth Capital that also featured Frees Fund and K2VC.
Conglomerate Fosun and 5Y Capital (then Morningside Venture Capital) then led a $50m series C for PingCap the following year that included all the series B participants.
GGV Capital, 5Y Capital, Access Technology Ventures, Anatole Investment and Jeneration Capital co-led the company’s $270m series D round, in November 2020, which included BAI.
Coatue Management, Matrix Partners China, Yunqi Partners, FutureX Capital, Kunlun Capital and Trustbridge Partners filled out the list of series D participants.
