Beijing-based big data analysis solutions provider Mininglamp Software System recently announced the completed of RMB 1.0 bln in Series C funding in 2017 from China Renaissance New Economy Fund and Tencent's (0700.HK) Tencent Industrial Capital.
Mininglamp provides big data analysis services to provincial and city-level public security bureaus and counts Bank of Communications and The People's Bank of China among its clients. Mininglamp improves the public security industry's case clearance rate by 5-20%, improves risk detection efficiency 3,000 times in the financial industry, and provides industry with a malfunction diagnostic system with an accuracy rate of over 98%. Mininglamp had more than RMB 200 mln in operating revenue in 2017.
Mininglamp serves its clients through discrete projects at an average cost of RMB 7-digits.
Editor's Note: For more information on this topic, please see Big Data Solutions Provider Mininglamp Raises RMB 200 Mln Series B, MD 8/10/16 issue.