Bertelsmann and Legend Holdings co-led the cloud infrastructure company's $50m series B, which could be a prelude to an initial public offering in the US.
Bertelsmann Asia Investments, a corporate venturing subsidiary of media company Bertelsmann, and Legend Capital, the corporate venture capital unit of China-based Legend Holdings, have co-led a $50m series B round raised yesterday by China-based cloud infrastructure software provider UCloud.
Venture capital firm DCM also participated in the round, which followed a $10m series A raised by UCloud from Bertelsmann and DCM in November. UCloud claimed the latest round is the largest yet raised by a Chinese company in the cloud…
