Guian-based BaishanCloud gains staggering 240m yuan in financing
BaishanCloud Technology Co, a cloud linkage supplier headquartered in Guian New Area, South China's Guizhou gained 240 million yuan ($37.53 million) from its C+ round of financing on June 1.
The financing was mainly provided by the Guizhou Big Data Industry Fund, Beijing Yinhe Dingfa Venture Capital Co of China Galaxy Investment Management Co and the Shenzhen-based Morality & Prestige Capital Co.
The Industrial and Commercial Bank of China has also established a long-term partnership with BaishanCloud, providing additional investments and loans to support the development of the company.
"BaishanCloud is both forward-thinking and innovative, with a clear vision for its future. It's move into the new market is highly anticipated," said Tian Guoqiang, general manager of Beijing Yinhe Dingfa Venture Capital.
Established in April 2015, BaishanCloud is the first Chinese cloud linkage service provider, offering enterprises customized services in efficient applications and data exchanges.
A view of the BaishanCloud Technology Co office [Photo provided to chinadaily.com.cn]
BaishanCloud has managed to improve performance for 10 consecutive quarters, with its most recent quarterly revenue being 56 times higher than when it started.
In July 2016, the company gained 100 million yuan from its B round of financing and another 100 million yuan from its B+ round of financing in December the same year. In January, it received investments totaling 330 million yuan from its C round of financing.
Advanced and innovative products and solutions also brought the company more than 400 clients from home and abroad, including Microsoft, Xiaomi, Jinri Toutiao (China's famous news aggregator app), HIKVision, Changhong and China Shipbuilding Industry Corporation.
"We will spare no effort in promoting cooperation between government and enterprises with strong potential and innovative capabilities and hope to create a more open and fair environment for innovation and entrepreneurship," said a spokesperson with the Guizhou Big Data Industry Fund.
Staff are hard at work at BaishanCloud Technology Co. [Photo provided to chinadaily.com.cn]