Big Data, Big Money: Dameng Closes Series A Led by Harvest Capital

Specializing in data management system development, Dameng has, since then, boosted its scope to cover over 30 industries such as public security, energy, auditing, communication and finance. It claims to have been independently developing various database software products for roughly 40 years, reaching 7 million lines of code – a pretty ‘geeky’ metric that shows how seriously the company treats its core focus. With R&D centers in Wuhan, Shanghai and Chengdu and branches in Beijing, Guangzhou and several other cities, the firm has also been exploring market opportunities abroad: its clients are scattered around the world, with Bulgaria, Ethiopia, Indonesia, Nigeria, Russia, South Korea, Thailand and the United States on the list. A growing number of exits in the cloud and corporate software sectors is another bright spot for the country’s private equity market, which has recently been cooling down, with many venture capitalists reluctant to throw financial resources at nascent local projects. Hong Kong-listed cloud computing supermarket UCloud (优刻得, A19019:SH) is also about to peep into China’s Mainland’s largest bourse – it received a nod from the market watchdog in late September.