Sequoia leads $30m round for China’s Mining Lamp
Sequoia Capital China has led a RMB200 million ($30 million) Series B round of funding for Mining Lamp, a Chinese big-data solutions provider.
Domestic VC firm Share Capital, Shenzhen-listed IT services provider Surfilter Network Technology, and existing investor Heaven-Sent Capital Management also participated in the round.
Founded in 2014, Mining Lamp supplies customized big-data solutions - including cybersecurity, data analysis and marketing strategy - to Chinese enterprises.
The start-up received a Series A round from Heaven-Sent Capital last year in June, AVCJ Research's records show. The net proceeds from the latest round will be used for R&D as well as technology applications in areas such as finance, tax and precision marketing, according to a statement.
Last month, Sequoia led a $70 million Series C round for Yuntongxun, a Chinese provider of cloud-based services for corporate communications. Prior to that, the VC firm invested in cloud computing provider UnitedStack.
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