IaaS startup Ucloud announced $10 million of Series A financing led by DCM and Bertelsmann, the largest capital injection in this sector so far. The fund is now in place. The investment will be poured in R&D, marketing and procurement of hardware, such as servers, according to Ji Xinhua, CEO of the company (report in Chinese).
Ucloud is principally engaged in R&D and operation of IaaS products, which cover cloud storage, cloud acceleration and cloud database. Ucloud, an open platform, is in cooperation with vertical cloud service providers on both upstream and downstream of the industrial chain, including, Upyun, Igetui, DNSPod, and QTestin, to provide cloud service to small- and medium-sized enterprises.
In addition to the development prospect of IaaS business, investors of this round are bullish on the executive and technological powers of the team. Ucloud is founded in 2011 by a group of talents from Huawei, Shanda, Neusoft and Tencent, who have rich experiences in research, development, operation, and maintenance.
Ucloud launched Southeast Asia Data Center last week in cooperation with HGC, the largest telecom carrier of Hong Kong, to explore Southeast Asia market.