China-based cloud software technology provider T2 Cloud has received almost RMB100m ($14.9m) in a series B round that included software and IT services provider Sinosoft, China Money Network reported today.
The round was led by an undisclosed securities company and follows a RMB36m series A round in 2016 featuring Lenovo Capital and Incubator Group, a corporate venturing subsidiary of electronics producer Lenovo, as well as F&G Venture and Phoenix Tree Capital.
T2 Cloud provides private, mixed and industrial cloud technology for corporate clients operating in areas such as transport, finance, energy, broadcasting, government, military and the internet of things. It has formed a strategic partnership with Sinosoft to expand its financial services-focused offering.
The company is already looking to raise series B+ funding, it said in a statement, and aims to float in its home country by the end of 2020. It intends to spend the series B funds on expansion and research and development.