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Investment, Venture Capital

Fortune Capital Leads $10M Round In Chinese Cloud Computing Service Provider CloudIn

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Fortune Capital has led a RMB70 million (US$10 million) series A round in CloudIn, a Beijing-based cloud computing services provider.

Existing investor Yunqi Partners also participated in the round.

Founded in 2015 by Wang Jiang, a former software engineer and chief architect at Sinovation Ventures, CloudIn provides cloud computing services including Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). Its products include cloud servers, cloud hard drives, cloud databases, cloud security and cloud surveillance.

Its cloud solutions have been used by customers in the fields of finance, police, government, and telecom.

"Cloud platforms and big data technologies will be integrated in the future, especially the diverse IaaS platform, and big data and artificial intelligence focused PaaS platform. Building cloud platforms for enterprises and big data ecosystems, helping companies improve their business value, will be the trend of cloud services in the next three to five years," said Ze Junquan, a manager at Fortune Capital. "CloudIn's team has solid experience in cloud computing and big data, as well as experience in helping companies grow their business value base on advanced technology."

The company previously raised a RMB40 million (US$5 million) pre-A round from Yunqi and Fortune last July. It plans to use the latest proceeds to enhance its market share in big data and cloud markets by perfecting its technologies, products and marketing.

Two months ago, CloudIn's rival, Shanghai UCloud Information Technology Co., Ltd., a cloud computing infrastructure and services provider raised a RMB960 million (US$139 million) series D round from Oriza Holdings and CICC Alpha.





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