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China’s Datagrand Nets $92M In Series C From Citic, Shenzhen Capital, Others

Mar 14, 2022•over 3 years ago

Amount Raised

$92 Million

Round Type

series c

Shanghai

Description

DataGrand, a specialist in intelligent text recognition and processing services, has pocketed 580 million yuan ($92 million) in a Series C round, as per a company statement.

Company Information

Company

Data Grand

Location

Shanghai, Shanghai, China

About

The company roped in a portfolio of investors including CITIC Securities, China Merchants Securities, GF Securities, Legend Star, Sunshine Insurance, Xiang He Capital, technology-focused Advantech Capital, and Hundreds Capital, besides returning investor Z Capital. Proceeds from the financing will be used to underpin its competitive capacity in text intelligence, it said. The nearly seven-year-old DataGrand has a strong pipeline of clients comprising Banks of China, China Construction Bank, China Ping An, China UnionPay, technology giant Huawei, state-backed motor group SAIC Motor, JD.com, home appliances, and consumer electronics major Haier, among others. In 2020, DataGrand had secured 270 million yuan ($42 million) in a Series B+ round of financing from Shenzhen Capital, Z Capital, Chenshan Capital, and SAIF Partners.In addition, DataGrand also had the backing of Eastern Bell Capital, F&G Capital, Haier Capital, Oriza Holdings’ Oriza Prior, and ZhenFund.

Funding Insights

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