XSky stores $45.3m series D

XSky, a China-based software-defined storage provider, has obtained RMB320m ($45.3m) in a series D round featuring Redbud Capital, a fund management affiliate of Tsinghua Holdings, part of Tsinghua University.
The round was led by China State-Owned Venture Capital Fund and was also backed by Qiming Venture Capital and unnamed additional investors.
Founded in 2015 and officially named Xingchen Tianhe (Beijing) Data Technology, XSky provides enterprise clients with cloud data storage that is controlled by virtualisation software located separately from the server in order to boost performance.
The capital is expected to help XSky bring its basic and hybrid cloud storage products through development with a view to growing its presence in the Chinese market.
XSky already serves sectors such as government, finance, education, transportation, energy and manufacturing.
The company has now raised $106m in total from five funding rounds.  Redbud Capital and Tsinghua were described as existing investors, although details of their earlier involvement could not be confirmed.
XSky attracted $38m of series C funding in early 2018 from New Enterprise Associates, Qiming Venture Partners, Redpoint China Ventures and Northern Light Venture Capital, the latter three returning from a $17.4m series B round the year before.
XSky had raised $8m of series A capital in a 2016 round featuring both Redpoint China and Northern Light, which put up $3.1m for XSky’s 2015 pre-series A round.