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Alibaba Invests in Cloud and Big Data Service Provider 'Dt Dream'

CC Time, 6/08/17

Hangzhou-based cloud and big data service provider Shumeng Gongchang Technology (Dt Dream) has announced the completion of RMB 750 mln (USD 110 mln) in Series A funding, giving the company a post-money valuation of USD 1.0 bln. Investors include Everbright Industry Capital Management and Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA).

Dt Dream is a cloud computing and big data solutions provider with an integrated big data terminal called "DThink." Dt Dream, founded in March 2015 in Hangzhou, has established technology centers and innovation labs in Beijing, Hangzhou, and Nanjing, and set up branch offices in more than 20 cities across China. Dt Dream is a strategic partner of Alibaba Group's cloud computing arm Alibaba Cloud, and has extensive experience in government, urban, and industrial internet applications.

Editor's Note: Dt Dream won RMB 450 mln in angel funding from Alibaba Group and Yinxinggu Investment in August 2015, according to Chinese IT industry investment information portal IT Juzi.

Keywords: Dt Dream funding Series A valuation VC M&A Everbright Industry Internet cloud computing Alibaba Group big data BABA

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