RootCloud digs up series B funding

Jun 18, 2019 • Jack Hammond

The internet-of-things software provider has sourced $72.2m in a series B round that featured Galaxy Holding Group.

China-based industrial software developer RootCloud closed a RMB500m ($72.2m) series B round on Monday that included Galaxy Finance Holding Group, a subsidiary of real estate developer Galaxy Holding Group.

The round was led by private equity firm Hejun Capital and also featured ZWC Ventures, Rising Investments, Huaxu Capital and Matrix Partners.

Founded in 2016, RootCloud has built a software platform that enables industrial manufacturers to digitise their operations using internet-of-things (IoT) and big data technology.

The company has helped connect…

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