UCloud Information Technology, a China-based cloud computing company backed by media group Bertelsmann and conglomerate Legend Holdings, has raised RMB960m ($139m) in series D funding, China Money Network reported yesterday.
The round was co-led by asset management firm Oriza Holdings and CICC Alpha, a subsidiary of listed investment banking firm China International Capital Corporation.
UCloud provides cloud computing infrastructure services including data storage, distributed data processing and cybersecurity to internet-focused companies.
The company intends to spend the cash on expanding its research team as it grows its international infrastructure and artificial intelligence capabilities.
The round increased UCloud’s total funding to $299m since it was founded in 2012, with Bertelsmann and venture capital firm DCM Ventures providing $10m of series A capital in 2013.
Bertelsmann and DCM returned for a $50m series B round the following year that included Legend Capital, the VC firm founded by Legend Holdings, while Bertelsmann participated through its Bertelsmann Asia Investments unit.
Legend Capital subsequently led UCloud’s $100m series C round in April 2015, investing alongside Bertelsmann, DCM, VMS Legend Investment Fund, DCM and investment firm GX Capital.