Kingsoft Corp‘s subsidiary Kingsoft Cloud announced that the company has obtained US$20 million series A funding from Russian entrepreneur and venture capitalist Yuri Milner, according to local Chinese media.
Kingsoft Cloud says this is the largest single investment into a Chinese cloud storage company.
At the end of the last year, Kingsoft Cloud sold US$1.82 million of shares to Chinese mobile phone company, Xiaomi Tech. The deal made Xiaomi Tech own a 9.87% stake of Kingsoft Cloud.
Yuri Milner previously invested in Facebook, Zynga, Twitter, Spotify, ZocDoc, Groupon, 360Buy.com and Alibaba.
Beijing-headquartered Kingsoft Corp is a Hong Kong-listed Chinese software company.