Chinese IoT Platform Rootcloud Raises $122m Series C Led by IDG Capital
By DealStreetAsia / Dec 18, 2020 05:52 PM / Finance
Guangzhou-headquartered IoT platform
Rootcloud announced on Thursday that it has closed a Series C round of financing raising 800 million yuan ($122 million) led by Beijing-based global investment and asset manager
IDG Capital.
Tencent; manufacturing-focussed
China Cinda Asset Management’s joint fund
Jian Xin Jin Yuan Investment; and
Tianya Capital.
Existing backer
ZWC Partners a China and Southeast Asia-focused Chinese VC fund that achieved a first close of $400 million on December 8 also joined the round, Rootcloud posted on WeChat. ZWC Partners along with
MatrixPartners China,