Bertelsmann, Legend Capital Lead $50M Series B Funding For UCloud

Shanghai-based cloud computing service provider UCloud says the company has received US$50 million in series B funding led by Bertelsmann Asia Investments and Legend Capital, according to Chinese media reports.

Existing investor Doll Capital Management (DCM) also participated.

The company previously received US$10 million series A financing from DCM and Bertelsmann Asia Investments.

UCloud says the proceeds will be used to build up its database centers and strengthen its research.

Founded in end of 2011, UCloud primarily provides infrastructure as a service (IAAS) packages to internet companies, including cloud server, storage, data, CDN (content delivery network) and other types of cloud computing solutions.

UCloud’s customer base consists mainly of companies specializing in gaming, mobile apps, and e-commerce.

China Expert Network