China-based cloud services provider Qiniuyun has obtained RMB1bn ($152m) in funding from e-commerce group Alibaba and Yunfeng Capital, an investment vehicle of Alibaba’s founder Jack Ma, China Money Network wrote today.
Founded in 2011, Qiniuyun operates a cloud computing platform aimed at enterprise users that provides big data analytics and artificial intelligence technology across a wide range of services, such as storage, live streaming and content delivery.
Alibaba’s investment is expected to help the corporate strengthen its own cloud computing subsidiary Alibaba Cloud. Qiniuyun will use the money to improve its technology and serviceability.
Qiniuyun previously secured an undisclosed amount in series D capital co-led by Harvest Capital Management and F&G Venture last year.
Qiming Venture Partners and Matrix Partners provided series B and C funding at undisclosed dates, following a series A round of several tens of millions of dollars from CBC-Capital.