State-backed conglomerate China Resources has led a funding round for China-based data analytics technology provider TalkingData sized at about $100m, DealStreetAsia reported yesterday.
China Resources’ CR Capital Group subsidiary invested through its CR Data Fund, and the round’s other participants were not disclosed.
Founded in 2011, TalkingData is the creator of a software platform called SmartDP that helps enterprise customers strengthen their data management and engineering activities.
The proceeds from the round have been earmarked for product development and bolstering TalkingData’s sales and customer support. It had raised more than $10m in series A funding from venture capital firm Northern Light Venture Capital in 2013.
The company added an undisclosed amount of series B funding from SoftBank Capital, a subsidiary of telecommunications and internet group SoftBank, and private equity fund manager Milestone Capital at a valuation in excess of $240m the following year.
Unnamed investors provided $100m for TalkingData in a 2016 series C round before e-commerce firm JD.com put up an undisclosed amount of series D funding in 2017, according to DealStreetAsia.
