Codeless data platform Huobanyun has garnered $40 million in its Series B+ round of financing from existing investors Sequoia Capital China and 5Y Capital, per a company statement on Monday.
Trustbridge Partners, Belle International and Engage Capital also joined the round. Boutique investment bank 100Summit Partners facilitated the transaction.
Sequoia China and 5Y Capital had earlier co-led the $17-million Series B round for Huobanyun in May this year. In 2014, the duo had invested a similar-sized sum in the firm’s Series A round.
The company will use the latest funding proceeds to spruce up its products and for service support.
Huobanyun develops a codeless data platform that helps small-and-medium-sized enterprises digitalise collaboration systems and operations.
With over 2.4 million daily users, Huobanyun’s top clients include sugar-free soda beverage brand Yuan Qi Sen Lin (Beijing) Food Technology, Pop Mart, and snack retailer Bestore.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from December 16 – 20, 2021.
