Lightspeed backs China’s DaoCloud

The investment size is said to amount to multi-millions of dollars.

Shanghai-based DaoCloud was co-founded by Yu Yong, a former executive in Microsoft and VMware, and Qiyan Chen, formerly head of EMC Research in China, last year. It provides Docker services to mobile app developers. Docker is an open-source engine that automates the deployment of a mobile apps in any languages and tool chain.

"We believe that the launch of Docker container technology will lead the whole cloud computing industry to the next level of technology upgrade. DaoCloud is well-positioned in the market, with the best team in China. They're very experienced in this area," Ju Zhang, an executive director in Lightspeed China, said in a release.

The new capital will be used to accelerate product innovation and marketing.

Last September Lightspeed and Google Capital co-led a $38 million Series C round of funding for InnoLight Technology, a Chinese manufacturer of cloud computing optical transceivers. The deal was Google's first investment in China. Early last year, Lightspeed led a $20 million Series C round for Chinese cloud services provider QingCloud.

The VC firm reached a final close of $260 million on its second China fund in June 2014.

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• Topics
• Greater China
• Venture
• Early-stage
• Technology
• China
• Technology
• Lightspeed Venture Partners
• Growth capital
• Venture