Ucloud receives 139 M financing to expand its business
UCloud
Founded in: 2012
Financing status: RMB 960 million (USD 139 million) in Series D financing in 2017
UCloud is a cloud computing services provider founded in 2012 in Shanghai. UCloud now provides Basic IT architecture services, including cloud computing resources, storage resources and network resources for more than 50,000 enterprise and individual customers. Its customers mainly come from the retail, manufacturing, financial, gaming, and electronics industries.
This Series D round financing of UCloud was led by Oriza Holdings and CICA ALPHA. UCloud will use this fund to expand its business to new countries and create new cloud solutions for other industries.
Retail startup I Believe receives USD 29 million to open convenience stores in new cities.
I Believe
Founder: Fan Yonggang
Founded in: 2012
Financing status: RMB 200 million (USD 29 million) for Series B financing in 2017
I Believe is a retail startup that has engaged in electronic commerce, business to business services, and supply chain operations based on internet technology. It is based in central China’s Henan province, and was founded in 2012. So far it has opened more than 1500 convenience stores in five provinces in China. I Believe established a new supply chain based on its own technology and resources, aiming to decrease its convenience stores’ costs and improve the efficiency of its logistics.
I Believe grabbed this Series B round financing led by ClearVue Partners. This fund will be used to upgrade the appearance and function of its convenience stores and expand its influence on the retail industry.
(Top photo from 58pic.com)