Sequoia-backed BizSeer has raised almost $28 million in a Series C round, while energy tech firm ZD POWER has snapped around $14 million in a Series A round.
Sequoia-backed BizSeer bags $28m Series C
BizSeer, a specialist in artificial intelligence for IT operations (AIOps), has notched 200 million yuan ($27.7 million) in a Series C round led by Chinese private equity firm Firstred Capital, a Beijing-based investment firm led by Chinese mergers and acquisitions (M&A) specialist Liu Xiaodan.
The round, participated by Cathay Capital and Sanyi Capital, will help the firm to foster its new product development and market expansion. Previous backers including Sequoia Capital China and Shunwei Capital also re-upped in this round.
The Beijing-based firm snapped up 150 million yuan ($22 million) in a Series B round led by Sequoia Capital China in October 2020.
Founded in 2016, BizSeer’s solutions help enterprises to proactively forewarn, detect and locate issues and anomalies within the IT systems. In July 2019, BizSeer garnered “millions of US dollars” in a Series A+ round from Shunwei Capital, Gaorong Capital, Future Capital, Oriental Fortune Capital, and Zhonghe Ruimin Investment.
GL Ventures leads ZD POWER’s Series A round
ZD POWER, an energy tech firm that provides smart power and carbon asset management solutions to businesses, has snapped over 100 million yuan ($13.9 million) in a Series A round led by GL Ventures, with participation from Source Code Capital and Creo Capital.
Founded in 2017, ZD Power specialises in virtual power plant (VPP) solutions, and claims to manage “several billion” kilowatt hours of electricity consumption every year. VPP is a decentralised network of power-generating units that can be pooled together through the use of software and IoT to provide a reliable power supply.