State-owned banks and investment firms are behind the latest funding round for the Cisco, Country Garden and Greenland Holdings-backed big data technology provider.
City Cloud Technology (CCI), a China-based smart city technology developer backed by corporates Cisco, Greenland Holdings and Country Garden, has received RMB500m ($76m) in a pre-series D funding round, DealStreetAsia reported on Tuesday.
The round was led by a fund co-launched by investment firm Zhejiang Fu Zhe Capital and financial services firms Industrial and Commercial Bank of China and China Construction Bank, all of which are state-owned.
Investment firms Winreal Investment and Yinxinggu Capital also participated in the round, which…
