Qiniu Cloud, a China-based cloud services provider that counts e-commerce group Alibaba and telecommunications firm Telstra as investors, has closed a RMB1bn ($141m) series F round, DealStreetAsia reported today.
The funding came from Bocom International Holdings, a subsidiary of financial services firm Bank of Communications, as well as the state-owned China Structural Reform Fund and Hongzhao Fund, an investment subsidiary of fund manager Jumbo Sheen.
Formerly known as Qiniuyun, Qiniu offers cloud services to enterprise customers that include data storage, analysis and processing. It has also developed products including a deep learning software platform called Qiniu AVA and video streaming platform Pili.
Alibaba and Yunfeng Capital provided $152m in series E funding for the company in 2017, following an amount reported to also be $152m, from Telstra, technology park Zhangjiang High-Tech, Harvest Global Investments, CBC Capital, F&G Venture and GHII, the previous year.
Qiniu raised tens of millions of dollars in a 2014 series C round led by CBC Capital that included Matrix Partners China and Qiming Venture Partners, the VC firms that supplied an eight-figure dollar amount for the company the year before.
Matrix Partners China had already provided an eight-digit renminbi amount for Qiniu in 2012, the year after it was founded.
