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China's UCloud raises $50m Series B round

  • Andrew Woodman
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UCloud, a China-based cloud services provider, has raised $50 million in a Series B round of funding led by Legend Capital and existing investor Bertelsmann Asia Investments.

Bertelsmann previously participated in s $10 million Series A round alongside DCM in November.

Founded in 2012 by former Tencent Holdings executive Xinhua Ji, UCloud targets online gaming and e-commerce operators with services such as cloud storage and data analytics. By outsourcing infrastructure services, companies can focus on other parts of their business. UCloud competes against the likes of Upyun.com, Qiniu.com, and Alibaba's Aliyun.

"In the long-term, most companies do not have the teams to build massive infrastructure capacity and disaster recovery capabilities," said Ji, in a statement. "UCloud is such a technology, helping Chinese enterprises to quickly solve the problem of internet infrastructure, operation and maintenance management issues, saving the cost of capital."

Cloud data services continue to be a popular investment target in China. In February, Intel Capital invested in three Chinese data start-ups: big data firm Shanghai Yeapoo Information Technology; cloud storage provider Tianjin Zhongke BlueWhale Information Technology; and cloud-based IT solutions company Wuxi China Cloud Technology Service.

A month before that, Lightspeed China led a $20 million Series B round of funding for Chinese cloud services provider QingCloud.

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