PE Daily, 5/04/17
Shanghai-based big data technology developer Transwarp Information Technologies today announced the completion of RMB 235 mln in Series C funding led by Chinese internet and mobile services firm Tencent (0700.HK). Also participating in the funding round were Qinzhi Capital, Costone Venture Capital, and Xingrui Zhixin. The funding will primarily be used for product expansion, recruitment of technical staff, and marketing investments.
Transwarp is a big data technology company which primarily provides basic software for big data, and also operates big data analysis platform Transwarp Data Hub.
Tencent's cloud computing solutions provider, Tencent Cloud Computing, has also formed a strategic partnership with Transwarp to incorporate Transwarp's big data storage and analysis capabilities for traditional industries into comprehensive cloud computing services. Transwarp and Tencent Cloud Computing will explore opportunities in the financial industry, and integrate Tencent's Finance Cloud with Transwarps big data processing platform.
Transwarp previously won RMB 7-digit angel funding in April 2014; RMB 8-digit Series A funding from F&G Venture in August 2014; RMB 8-digit Series A+ funding from Qiming Venture Partners and Sunyard System Engineering in January 2015; and RMB 155 mln in Series B funding in March 2016 from Qiming Venture Partners, Real Power Capital, Shenzhen Capital Group, and National Small and Medium Enterprise Development Fund.
Editor's Note: For more background on this topic, please see "Big Data Company Transwarp Secures RMB 155 Mln Series B" MD 3/01/16 issue.