China-based computing services provider VDN Cloud has completed a series A-plus round featuring Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, raising almost RMB100m ($14.3m), DealStreetAsia has reported.
VC firm Fortune Capital and China Renaissance Capital Investment, an alternative investment management arm of investment bank China Renaissance, also participated in the round, according to a WeChat post cited by DealStreetAsia.
Founded in 2016 as Beijing VDN Cloud Service & Technology, VDN Cloud initially concentrated on a cloud-based content delivery network service, before moving into the edge computing arena in 2018 where it continues to focus.
The company uses edge computing to offer cloud services across areas such as online gaming, video streaming, education and live streaming, remotely managing clients’ IT infrastructure.
The proceeds from the round will go to research and development, in addition to marketing and brand promotion activities.
VDN Cloud secured approximately $7m in a 2016 pre-series A round featuring private equity firms QF Capital and the media-focused CBC Capital, in addition to VC firm Guojin Capital. It has not disclosed details of its series A financing.
