Tsinghua University-linked data protection software developer’s latest round valued the company at $621m.
Huakong TsingJiao Information Science, a China-based data circulation technology developer that emerged out of Tsinghua University, has secured RMB500m ($78m) in a series B round.
Data integration service XunceTech and electronics providers Lenovo and Oppo backed the round, as did financial services firms China International Capital Corporation and Shanghai Pudong Development Bank’s Puxin Capital unit.
China Renaissance, Beijing Zhongguancun Science City Construction Holding, Everest VC and Cowin Capital filled out the round.
Lenovo invested through its corporate venturing unit, Lenovo Capital, and the round took the company’s valuation to more than $621m.
Founded in 2018, Huakong TsingJiao is developing private computing technology that helps organisations meet standards set out by China’s data security law and personal information protection law.
Stock market operator Hong Kong Exchanges and Clearing had paid an undisclosed sum for a minority stake in Huakong TsingJiao in 2019.
The company’s existing shareholders also include Tsinghua University’s asset management arm Tsinghua Holdings, Gaorong Capital, Lotus Lake Capital and National Internet Finance Association of China’s Zhonghu Jiaotou Fund Management vehicle.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
