DCM leads $10m round for China big data specialist
DCM Ventures has led a $10 million round for SequoiaDB, a Chinese big data software developer, followed by existing investor Qiming Venture Partners.
Based in Guangzhou, SequoiaDB develops a new class of enterprise-level database management systems, called NewSQL, for use by various industries. Its software claims to provide high performance data storage and processing functions, while it can integrate with other open-source platforms including Hadoop and Spark for data analysis.
Its technology solution has already been adopted by large Chinese firms, such as Bank of China, Hainan Airlines, Chinese telecom and several internet companies.
Qiming participated in an undisclosed Series A round in December 2014. The new capital will be used to expand its market share and develop new products for Chinese enterprises, the company told 36kr.
DCM recently closed its latest global fund, which primarily targets investments in China and the US, at the hard cap of $500 million.
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