Monday, 2023 December 11

CHINA BRIEF: IT solutions provider SmartX raises USD 28.6 million in Series B+ and C rounds

Beijing-based SmartX has closed its Series B+ and Series C rounds, collecting RMB 200 million (USD 28.6 million) in total, 36Kr has learned.

Vertex Ventures China led the Series B+ round, while the previous investor Matrix Partners China also participated. Tianjin Venture Capital and Hua Capital led in the Series C and earlier investor F&G Venture contributed in that round.

The company, founded in 2013, has been mainly providing hyperconverged infrastructure (HCI) to simplify IT operations. SmartX is still a small player in the global HCI market, where Cisco, VMware, Huawei, and Lenovo have a large presence, according to a report released by market research firm Forrester in May.

SmartX, whose clients include display maker BOE and financial brokerage China Merchants, will use the new funds to build a new generation of distributed computing and storage engines for enterprise clouds, and to expand the application of its technologies in edge computing.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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