An investment subsidiary of internet group Tencent has co-led a RMB1bn ($159m) series C round for China-based big data technology provider MiningLamp, China Money Network reported today.
Tencent Industrial Capital co-led the round with investment banking firm China Renaissance, which took part through its New Economy Fund. China Money Network cited an announcement on the latter’s WeChat account when reporting news of the funding.
Founded in 2014, MiningLamp has developed products such as LiteMind, a human-to-machine interaction platform that converts natural language into structured data, and a big-data mapping platform called Nest.
The company’s technology is supplied to clients in sectors such as financial services and security. Its series C round follows a $30m series B round led by venture capital firm Sequoia Capital China in August 2016.
Share Capital, Surfilter Network Technology and Heaven-Sent Capital Management Group also participated in the series B round. MiningLamp has not revealed details of its series A funding.