Zhejiang Mingdu Zhikong Technology has raised 80 million yuan ($11 million) in its Series A+ round funding from China Merchants Venture, Zheshang Venture Capital and Topping Capital, while BoCloud has completed an undisclosed Series C+ round of financing from CETC Fund and NIO Capital.
Mingdutech nets $11m in Series A+ round
Zhejiang Mingdu Zhikong Technology Co., Ltd, also known as Mingdutech, has garnered 80 million yuan ($11 million) in its Series A+ round funding from state-owned China Merchants Venture, Zheshang Venture Capital and Topping Capital, the company announced on WeChat.
Mingdutech helps life science companies with digitalization solutions. It serves over 100 leading pharmaceuticals such as Sanofi, Johnson & Johnson, Shanghai Pharma and CR Sanjiu.
The company will deploy the proceeds towards business development and product upgrade.
Mingdutech previously raised its pre-A and Series A rounds from Cash Capital, Macalline Group’s investment arm and Zhejiang Innovation Huiying Investment Management in 2019.
NIO Capital backs BoCloud’s Series C+ round
Chinese platform-as-a-service (PaaS) developer BoCloud said it has completed an undisclosed Series C+ round of financing from state-owned CETC Fund and returning investor NIO Capital.
NIO Capital has joined hands with JD Cloud, Oriza Holdings, Tianjin Venture Capital, Bondshine Capital and Kangli Junzhuo for its 100 million yuan ($14-million) Series C round in January 2020.
The latest funding will be allocated for cloud product innovation, market expansion, business ecosystem and partnership network, it said in a statement.
Founded in 2012, Suzhou-based BoCloud leverages cloud computing technology to offer PaaS and cloud-management-platform (CMP). It claims to have served over 200 companies across finance, energy, manufacture, retail, software, telecommunication and healthcare.
The company has also been backed by Oriental Fortune Capital, Huatai Securities, Hoperun Information Technology and TalkingData.