China edge cloud computing provider raises $38m

This follows a pre-Series A round of about USD 10m last year featuring BlueRun Ventures China (BRV China), Alphax Partners, Hua Partners, and iVision Venture last year, according to AVCJ Research. BRV China re-upped in the Series A.

PPIO was established in 2018 by Wenyu Wang and Xin Yao, who were both part of the founding team at China-based video streaming service PPTV. PPIO focuses on edge cloud computing services that meet the needs of low latency, high bandwidth, and large-scale distributed processing systems.

The company serves clients in more than 1,000 cities across 30 provinces and regions in China, offering audio and video management, cloud security, and performance optimization services. Clients include long and short video platforms, live streaming businesses, and cell phone manufacturers. PPIO also collaborates with leading cloud computing service providers, according to a statement.

Yao noted that the migration of data storage from the centralised cloud to end devices is picking up pace. Edge computing performs storage, processing, and analysis functions nearer to these end devices, enabling faster response times.

The new capital will be used to enhance proprietary technologies and edge infrastructure and to strengthen R&D into scenarios where ultralow latency is required, such as live streaming, cloud gaming, cloud rendering, and connected vehicles.

"We believe that the maturity of low latency computing is essential for many applications, such as cloud gaming, AR/VR [artificial reality/virtual reality], space digitization, metaverse and other next-generation life and work scenarios, to break into the mainstream consumer market and become truly viable businesses," said Jui Tan, a managing partner at BRV China.

IResearch Consulting Group projects that services around China's connected internet-of-things (IoT) devices will be worth CNY 14.8b in 2023, up from CNY 5.5 billion in 2019. Edge computing is regarded as an important part of efficient IoT networks.

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• Topics
• Greater China
• Early-stage
• Technology
• China
• BlueRun Ventures
• China Creation Ventures
• AlphaX Partners
• cloud computing