Kingsoft Cloud Storage, a subsidiary of Kingsoft Group, reportedly secured $20 million of Series A financing led by Russian investor Yuri Milner, an early investor of Facebook. (source in Chinese).

Supported by the financing, Kingsoft Kuaipan, a service under Kingsoft Cloud, offers a 100G free storage service to users, which was previously charged for 229 yuan ($37.12) per year (source in Chinese).

King Cloud is principally engaged in the business of cloud service platform, commercial and personal cloud storage. Launched in 2010, the company claims the individual users of Kingsoft Kuaipan amounted to more than 45 million as of April this year with millions of daily active users.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.