China Tech Newsletter – April 9, 2015

Cloud service provider UCloud announced approximately US$100 million in Series C funding led by Legend Capital (the VC firm of Lenovo) and joined by VMS Legend Investment Fund I, DCM, Bertelsmann Asia Investments and GX Capital.

Eight months ago the company announced US$50 million Series B funding. It has data centers in mainland China, Hong Kong and the U.S. UCloud was founded in 2012 by former Tencent executives.

AutoNavi, the mapping company Alibaba Group has acquired, launched LBS+ initiative that provides developers with mapping functionality, development tools for location-based services, location data analysis services, cloud services, among others., which provides interior designs and web-based tools for users to design their home on its site, announces US$10 million in Series B funding from GGV Capital. The site received multi-million dollar in the previous round.

(Note: Inflating funding figures or user metrics are believed to be popular in today’s China.)

About China Tech Newsletter

China Tech Newsletter compiles hand-curated business news from the China tech market.


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