China open source software player raises $43m Series B

Trustbridge Partners and Temasek Holdings-owned Pavilion Capital also came into the deal, as did existing investors 5Y Capital - formerly Morningside Venture Capital - and Yunqi Capital.

Zilliz has raised more than $53 million to date. It received a $2.5 million angel round in 2017 led by Yunqi and a $10 million Series A led by Wuyuan the following year.

The proceeds will be used for recruiting additional talent, building an open-source software ecosystem, and developing cloud-based products and services, said Jue Xing, the company's founder.

"80% of the data in human society exists in the form of unstructured data, and they are not effectively used," Xing said. "In the past few decades, we have been able to use computers to efficiently process structured data like numbers ​​and texts. However, it lacks effective processing methods for the widespread unstructured data such as pictures, videos, and gene sequences.”

Zilliz was founded in 2017 and maintains a presence in the US. The company claims its solution has been adopted by more than 400 organizations and institutions globally in the fields such as image processing, computer vision, natural language processing, recommendation systems, search engines, and drug discovery.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Technology
• Early-stage
• enterprise software
• artificial intelligence
• Hillhouse Capital Management
• Trustbridge
• Yunqi Partners
• Morningside Venture Capital
• Wuyuan Capital
• China