Chinese data infrastructure technology provider XSKY has raised 400 million yuan ($63 million) in a Series F round. Separately, Cathay Capital has teamed up with Kering, L’Oreal, and Pernod Ricard to launch a China-focused retail fund.
Data tech startup XSKY closes $63m Series F
XSKY (Beijing) Data Technology, a Chinese data infrastructure technology provider, has raised 400 million yuan ($63 million) in a Series F round of financing from Source Code Capital and V Fund.
In a statement on Tuesday, the startup said that the new round brought its total fundraising size so far this year to over 1 billion yuan ($157.3 million).
The Series F round followed the completion of a 710-million-yuan ($111.7 million) Series E round in September. The earlier round was led by Chinese private equity (PE) firm Boyu Capital, with the participation from investors including Legend Capital, CICC Alpha, Qiming Venture Partners, Northern Light Venture Capital (NLVC), and others.
Founded in 2015, XSKY offers software-defined infrastructures and data management solutions based on hybrid cloud to help customers realise aggregation, storage, management, and analysis of data. The startup serves over 1,000 clients across a wide range of fields in China, such as the public sector, finance, healthcare, manufacturing, aerospace, education, and energy, according to its official website.
Beijing-based XSKY plans to use the new capital to increase investment in the R&D of core technologies and to improve its abilities in serving clients across key application industries.
Cathay Capital partners French firms to launch new retail fund
Cathay Capital has teamed up with three French companies to set up a fund for investment opportunities in China’s consumer goods and retail industries, the investment firm announced on Wednesday.
Cathay Capital joined hands with French luxury goods company Kering, cosmetics brand L’Oreal, and spirits maker Pernod Ricard to launch the new fund.
The fund, located in southeastern China’s port city of Xiamen, will invest in the country’s early-stage startups from the seed stage to the Series A stage.
Cathay Capital will serve as “a business partner” to talented emerging entrepreneurs to “create positive value to companies and the society,” it said in the statement.
“The move is expected to further expand Cathay Capital’s investment layout in the consumer industry,” said the firm. “Cathay Capital will leverage its global vision, industry expertise in mid- and late-stage investments, standardised investment research, as well as capabilities in sourcing deals at the early stage to better work and achieve win-win results with its industry investment partners,” said the firm.
Cathay Capital, established in 2006, currently manages over 4 billion euros ($4.5 billion) with investments in more than 230 companies worldwide.
In China, the firm primarily invests across the consumption, energy, industrial, healthcare, and technology sectors. Its portfolio companies include JD Logistics, smart fitness startup Fiture, second-hand electronics trading platform Aihuishou, and health services provider Meinian Onehealth. Cathay Capital is also is an investor in Chinese e-commerce platform Pinduoduo and Sequoia-backed soft drink brand Genki Forest, among others.
