Kingsoft Cloud, the cloud computing arm of software powerhouse Kingsoft Corporation, has received a combined US$66.66 million of capital injection recently. The funding consists of two parts, Series B financing from its parent company and IDG, and a purchase of preferred stock in Kingsoft Cloud by the parent company and Xiaomi.

Upon completing the transaction, KingSoft Corporation, Xiaomi and IDG will hold 52.3%, 24.5% and 3.98% in the company respectively, when calculated at outstanding fully-diluted shares.

Kingsoft Cloud offers a variety of services to subscribers from data hosting and cloud storage to series particularly for developers. With a daily upload of over 258TB, Kingsoft Cloud’s current audience are mainly Xiaomi users since it is the default option on Xiaomi devices.

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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.