XSKY (Beijing) Data Technology on Friday announced that it has secured as much as 710 million yuan ($110 million) in a Series E round of financing led by Chin-focused private equity firm Boyu Capital.
A slew of new investors including Lenovo Group’s corporate venture capital arm Legend Capital, CICC Capital’s investment unit CICC Alpha, Kunlun Fund, financial services provider Hundsun, and Suzhou Yishang Investment joined the round.
Existing investors – Qiming Venture Partners, Northern Light Venture Capital and Broad Vision Funds – re-upped in the round, per a company statement.
The latest round comes over a year after the firm completed its 320 million yuan Series D round funding led by state-owned China Reform Holdings with participation from Tsinghua Holdings, Qiming and Broad Vision Funds.
The firm will use the latest round proceeds for technology R&D and data-driven IT infrastructure.
Set up in 2015, XSKY provides software-defined storage solutions to over 1,000 clients in sectors such as government administration, finance, healthcare, education, energy, transportation, logistics, among others.
Northern Light Venture Capital, an early investor in XSKY, had backed the firm’s pre-Series A round back in 2015. Subsequently, it had also participated in the firm’s 52 million yuan Series A round in 2016, 120 million yuan Series B round in 2017, and 240 million yuan Series C round in 2018.