China-based software-defined storage provider XSky Data Technology raked in $110m in a series E round with participation from financial software firm Hundsun and Legend Capital, the VC firm set up by conglomerate Legend Holdings.
Private equity firm Boyu Capital led the round, which was filled out by financial services provider China International Capital Corporation (CICC), Suzhou Yishang Investment, Qiming Venture Partners, Northern Light Venture Capital, Kunlun Fund and Broad Vision Funds.
CICC made its investment through CICC Alpha, an investment arm of its subsidiary CICC Capital.
Founded in 2015, XSky provides software-defined storage services for both public and private entities across sectors including healthcare, transportation, logistics, education and finance.
The funding will be used to support the company’s R&D and its IT infrastructure.
XSky raised $45.3m in a July 2020 series D round led by China State-Owned Venture Capital Fund with participation from Redbud Capital – an affiliate of Tsinghua Holdings, the asset management arm of Tsinghua University – as well as Qiming Venture Partners and Broad Vision Funds.
Qiming led the $17m series B round in May 2017, which featured Northern Light Venture Capital and Redpoint Ventures, the latter of which had led the $8m series A in May 2016 that also saw investment from Qiming. Northern Light had put up $3.1m for XSky’s 2015 pre-series A round.
