China-based data storage software producer YanRong Tech has completed a RMB120m ($18.6m) series A-plus round featuring UCap Oceanwide Fund, an investment vehicle backed by IT services firm UCap Cloud Information Technology, DealStreetAsia reported yesterday.
UCap Oceanwide Fund, a joint venture between UCap Cloud and venture capital firm Cowin Capital, joined investment management firm Oceanpine Capital, which led the round, as well as VC firm Glory Ventures. The deal was facilitated by Winsoul Capital.
YanRong has developed a cloud database management product called YRCloudFile, and will put the funding into product development, market expansion and bolstering its partnerships.
Glory Ventures participated in the round as an existing investor. The company’s earlier backers include Sunyard Investment, the corporate venturing arm of app management software provider Sunyard System Engineering, and private equity firm Score Capital, according to DealStreetAsia.
