Kingsware Raises Series C Round in December 2022

Posted on 03/04/2023

On March 3, 2023, Zhuhai Kingsware Information Technology Co. LTD (Kingsware) held its series C funding and new product conference in Zhuhai city. At the meeting, Kingsware officially announced that the company has raised around RMB 500 million in series C funding in December 2022. With CDB Capital (China Development Bank Capital Company Limited) leading the investment, Wenrun Investment (Wens Capital), Guangdong Finance Fund (overseen by Guangdong Finance Fund Management Co., Ltd), CICC Capital, Sgunwei Capital, Junsan Capital, Zhengling Venture Capital, and other institutions participating as follow investors. CDB Capital is a unit of China Development Bank. CICC Capital is a unit of China International Capital Corporation Limited. Junsan Capital is a China-focused private equity firm that predominantly invests in small and medium companies.

According to Kingsware, the funds will mainly be used to accelerate the research and development of “RPA+X” product matrix, thus improving the company’s “1+N” ecological layout.

Kingsware raised its Series A round in July 2020 in a US $14.3 million round led by venture firm Qiming Venture Partners. Other investors included Junsan Capital, Huajin Capital, Taiya Dingfu Investment Management, and Zhuhai Technology Venture Capital.

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