Kingsoft Cloud Raises $60M Series C From Parent And Others

Kingsoft Cloud Group has raised US$60 million in a series C round of financing from parent company Chinese software firm Kingsoft, IDG Capital Partners and an entity associated with China Asset Management Co., Ltd., according to a disclosure document.

The round values Kingsoft Cloud, the cloud computing unit of Kingsoft established in 2012, at US$1.06 billion.

After the completion of the latest fundraising, Kingsoft, China Asset Management and IDG will each hold 51.83%, 2.48% and 4.32% of the company, says the disclosure document.

Kingsoft Cloud previously raised US$20 million series A round in 2013, and US$66.6 million in March 2015.

Caishen.Co - Primary Data for China Secondary Investment and Stock Markets
 
Caishen.Co - Primary Data for China Secondary Investment and Stock Markets

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