Tencent Unit Leads $30M Series C Round In Big Data Firm Yonghong Tech

A unit of Tencent Holdings Ltd. has led a RMB200 million (US$30 million) series C round in Yonghong Tech, a Chinese big data analytics firm, according to Chinese media reports.

Genesis Capital, Shenzhen Oriental Fortune Capital, Matrix Partners and iResearch also participated.

Yonghong Tech’s big data analytics tools allow users to quickly install, visualize and analyze data via simple procedures, usually conducted within one day.

Its tools are used by e-commerce firms, healthcare companies, financial services and Internet finance users.

The start-up previously raised RMB100 million (US$15 million) series B round led by Shenzhen Oriental Fortune Capital in December 2015.

In January 2015, Matrix Partners invested RMB50 million in a series A+ rould in the company.

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