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Cloud Service Provider UCloud Secures Series E Funding from China Mobile, 6/28/18

Shanghai-based cloud service provider UCloud Information Technology has won Series E funding from telecom operator China Mobile (NYSE: CHL; 0941.HK). The two companies will undertake a comprehensive strategic partnership covering different levels of resources, ecosystem, technology, product, and investment.

UCloud and China Mobile will jointly undertake work on research, development, and standards-crafting for new technologies such as cloud computing, big data, internet of Things, edge computing, and 5G, according to UCloud vice president of strategy Zhang Juyan. The two firms will also promote reasonable technological methods to accelerate UCloud's launch on China Mobile's network.

UCloud and China Mobile will also join third-party SaaS partners to provide small and mid-sized enterprises with quick deployment services for cloud-based IT infrastructure and SaaS applications. China Mobile and UCloud will also coordinate joint marketing and promote UCloud's products and services with the help of China Mobile's basic resources, operations and maintenance system, and sales channels.

UCloud's current business line consists of cloud computing products such as self-developed IaaS, PaaS, AI service platform, and big data circulation platform. The company's strategy can be summarized as "CBA" for Cloud, Big Data, and Artificial Intelligence.

Editor's Note: For more information on this topic, please see Cloud Service Provider UCloud Raises RMB 960 Mln Series D, MD 3/29/17 issue.

Keywords: Zhang Juyan M&A China Mobile Internet funding telecom 5G cloud computing CHL 0941.HK Ucloud Series E artificial intelligence edge computing IoT Software as a Service Platform as a Service Infrastructure as a Service


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