IDG invests in Chinese mobile tech player AVOS Cloud
IDG Capital Partners has invested in a Series A round of funding for AVOS Cloud, a Chinese mobile back-end as a service (BaaS) provider. Financial terms were not disclosed.
AVOS Cloud was spun-off from AVOS System, an US internet company set up by YouTube founders Chad Hurley and Steve Chen, early this year. The new company focuses on developing mobile technology infrastructure, enabling mobile applications to connect with cloud computing services smoothly.
As of the end of June, over 10,000 companies, including app developers, were using its technology in apps development.
Hong Jiang, co-founder and CEO of AVOS Cloud, plans to use the new funding for hiring new talents and marketing. Kuiguang Niu, vice president at IDG, told local media that he was optimistic on the growth of enterprise software market in China. There is strong demand for mobile infrastructure upgrade, given that Chinese mobile app users have reached 700,000.
Cloud data services continue to be a popular investment target in China. In July, KeyTone Cloud, which emphasizes information security, raised $8 million from Gobi Partners and China Broadband Capital. UCloud, which targets online gaming and e-commerce operators, secured $50 million from Legend Capital and Bertelsmann Asia Investments.
In February, Intel Capital invested in three Chinese data start-ups. A month before that, Lightspeed China led a $20 million Series B round of funding for Chinese cloud services provider QingCloud.
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