Kingsoft Cloud Raises USD 50 Million in Series D+
Summary
Kingsoft Cloud (金山云), the cloud service affiliate of Kingsoft Corporation (金山软件,3888:HK), recently landed another USD 50 million in Series D+, led by CIIFund (China Internet Investment Fund;中国互联网投资基金). The company has data centers and branch offices around the globe, including Beijing, Shanghai, Chengdu, Guangzhou, Hong Kong and certain North American cities. Its continuing transactions and cooperation with Xiaomi (1810:HK) – an associate of Lei Jun (雷军), non-executive director and chairman of the board of Kingsoft Corporation – ensure the smooth development of the business of the cloud solution provider to a large extent. Kingsoft Office (金山办公, A17055:SH), its office software subsidiary, has just been listed (November 18) on the Shanghai Stock Exchange Sci-Tech Innovation Board (also known as the Star Market). According to Mr. Lei, the corporation is also preparing to spin off Kingsoft Cloud as an independent company and considering making it public.