Cloud computing and big data service provider Dt Dream receives USD 110 million for Series A
Founder: Wu Jingchuan
Founded in: 2015
Financing status: RMB 750 million (USD 110 million) Series A round in 2017
Cloud computing and big data service provider Dt Dream on Thursday receives USD 110 million for its Series A financing round to provide its business partners with more comprehensive cloud services.
Dt Dream is a cloud computing and big data service provider that offers cloud computing and big data analysis for its partners to help improve their efficiency in this Internet and big data era. Its product offerings include an integrated database machine called DTbase, and an integrated big data machine and system called DThink. It has collaborations with mainly firms from the e-commerce, government and some other Internet and big data related industries.
Launched in 2015 in Hangzhou, it has established technology development centers and innovation labs in Beijing, Hangzhou, and Nanjing, and has also set up branch offices in more than 20 cities in China.
This Series A financing round was from a group of investors including Everbright Industry Capital Management, Yinxinggu Capital, and Alibaba Group which also invested Dt Dream’s previous financing round. Currently, Dt Dream is a strategic partner of Alibaba Group’s cloud computing arm Alibaba Cloud. The capital will be used to improve its cloud computing and big data technology, so as to provide its partners with more comprehensive services and attract new partners.
Social networking app Tantan receives USD 70 million for Series D
Founder: Pan Ying
Founded in: 2014
Financing status: RMB 476 million (USD 70 millon) Series D round in 2017
Social networking app Tantan on Friday receives USD 70 million for its Series D financing round from YY.com to introduce live streaming into its app.
Tantan is a social networking app that provides unique social experience for strangers to connect with each other. Each new user is required to upload an authentic profile picture before they can chat with other users.
Tantan will recommend users of potential matches not only based on location, but also according to other information such as locations that users commonly visit, interests, common friends, and so on. Users can swipe to like or pass on matches recommended by Tantan. Once two people like each other on Tantan, they can then start chatting.
Launched in 2014, the Beijing company claims that it has over 2.5 million active users a day and 80 percent are young users of ages below 30, according to data it released in 2016.
Previously, Tantan raised funding from some famous investors including KPCB, LB Investment, Bertelsmann Asia Investments and Vision Plus Capital. This Series D financing round was led by YY.com, China’s real-time voice and video streaming platform. It plans to use the fund to introduce live streaming services to its app, as well as to prepare for initial public offering (IPO) at the end of 2017.
(Top photo from 58pic.com)