Marine shipping firm Cosco Shipping Development has led a RMB150m ($21.4m) series B-plus round for China-based data storage technology producer SandStone Data, China Money Network reported yesterday.
Xianghe Capital and Wuxi Capital also took part in the round, which followed an undisclosed amount of series B funding from GF Qianhe and Shenzhen Talent Fund in 2019. Shunwei Capital had led the company’s series A round in 2017.
Founded in 2014, SandStone has built a software-defined storage system that can manage large quantities of data from a range of sources for use in areas such as cloud computing, artificial intelligence and the internet of things.
The funding will support market expansion and the growth of the company’s team, according to DealStreetAsia.