Shanghai Yunzhou Information and Technology, the China-based cloud services provider also known as ZStack, has raised RMB230m ($33.3m) from investors including e-commerce firm Alibaba and cybersecurity software producer DBappSecurity, DealStreetAsia reported yesterday.
The series B-plus round was led by Beijing Three Gorges Xintai Investment Management, an affiliate of state-owned power producer China Three Gorges Corporation, while Alibaba participated though cloud services subsidiary Alibaba Cloud.
Financial services firm Bank of Communications’ Bocom International subsidiary filled out the round with China Internet Investment Fund, Everest Venture Capital, Silicon Paradise, Wenqin Capital, Shenzhen Capital Group, Qianhai FOF, New Alliance and Zizhu Xiaomiao Fund.
ZStack is the developer of an open-source cloud software product that enables customers to efficiently manage compute, network and storage activities in their data centres.
The funding will go to further development of the company’s software in addition to enhancing digital transformation and strengthening its partnerships.
Alibaba Cloud led a series A round of undisclosed size for ZStack in 2017 and returned for a $14m series B in late 2018 that was led by Shenzhen Capital Group and backed by New Alliance Group, Shanghai Zizhu Xiaomiao Equity Investment Fund and Qianhai FOF.
