Chinese Cloud Company UCloud Raises $50 million in Series B Funding
Chinese cloud company UCloud has raised $50 million in Series B funding. Established in 2012, UCloud provides cloud computing infrastructure and caters to a range of companies including online games and mobile providers. Alongside games and mobile, its services include mobile internet, Software-as-a-Service (SaaS), “big data” and ecommerce solutions. The company provides infrastructure for some of China’s leading online games.
UCloud’s investment was provided by Bertelsmann Asia Investments (BAI), a strategic venture fund provider with headquarters in Beijing, China. BAI focuses on “early-to-growth stage” investments with a focus on “new media”. Venture capitalists DCM, who originally invested in the company when it raised US$10 million in its “Series A” round, were also involved in the current round of investment activity. The company will use the money to build a data center in the North American market and enhance its Research and Development capability.
Despite its position in the Chinese market, UCloud operates in a competitive environment which includes the likes of Aliyun - Alibaba's cloud provider. The extension of its activities into the North American market will give the company’s foreign customers enhanced services and strengthen its position in foreign markets. A number of reports have also suggested UCloud might be heading towards an IPO in the United States in the non-to-distant future.
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