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Qiming leads $17m round for China data storage software developer

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Qiming Venture Partners has led a RMB120 million ($17 million) Series B round for XSKY Beijing Data Technology Corporation, a China-based data storage software services provider.

Northern Light Venture Capital (NLVC) and Redpoint Ventures China also participated in the round.

Founded in 2015, Beijing-based XSKY provides software-defined-infrastructure products and services to Chinese enterprises, enabling a company's computing infrastructure to be entirely automated. It develops internet operation technology, open-source storage platforms, and scale-out storage solutions that allow storage resources to grow in step with business demand.

The company currently is the only storage solution partner of Chinese software firm Red Hat China. Other customers come from the transportation, telecom, and energy sectors.

The company raised a RMB20 million pre-Series A round from NLVC in 2015, and a Series B round worth RMB52 million from Redpoint and NLVC last year. The latest funding will be used to develop new technology solutions, enlarge the team, and expand market share.

Last week, Tencent Holding led a $34 million round for Transwarp Technology, a Chinese big data technology developer backed by a string of VC investors. Other VC investments in this space also include EasyStack and UCloud. 

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