UCloud raises $50 million in funding
UCloud is a China-based cloud computing company for game companies and mobile startups that has raised $50 million in Series B funding. UCloud offers prices that can compete against Amazon Web Services (AWS). This is the largest funding round associated with a Chinese cloud-infrastructure-as-a-service.
This round of funding was led by Bertelsmann Asia Investments and Legend Capital. This round of funding will go towards ramping up R&D and its data center infrastructure. UCloud plans to eventually go public in the U.S. UCloud is not the only large cloud company in China. It also competes against Upyun.com, Qiniu.com, and Alibaba’s Aliyun.
UCloud was founded in 2012 by former Tencent executive Ji Xinhua, who works as CEO of the company. Xinhua used to advise China’s National Computer Virus Emergency Response Center and the Beijing government for the Olympics. His company hired talent away from Baidu and Shanda.
“In the long-term, most companies do not have the teams to build massive infrastructure capacity and disaster recovery capabilities,” stated Xinhua Ji. “UCloud is such a technology, helping Chinese enterprises to quickly solve the problem of Internet infrastructure, operation and maintenance management issues, saving the cost of capital.”