China’s big data analytics firm Wenge Group, known as Zhongke Wenge, has bagged over 500 million yuan ($69 million) in a Series E round led by state-owned investment firms including National Manufacturing Transformation and Upgrading Fund, CCTV Media Industry Investment Fund, and Zhongguancun Science City.
Return backers Infotech ventures, Hengbang Capital, and the Chinese Academy of Science-backed investment fund also joined the round, the firm said in the statement.
Founded in 2017, Wenge Group offers a big data analytics platform to businesses and government organisations. The firm collects large amounts of raw data via the internet to enable its clients to capture market trends and insights.
Wenge Group, a subsidiary of the China Academy of Sciences, previously announced the completion of its Series D round at 200 million yuan ($30 million). The round was led by Shenzhen Press Group’s fund in May 2021. Huagai Capital, CMB International, China Industrial Asset Management, and Nanxin Venture Capital also joined the round.