Chinese Cloud Solutions Provider T2 Cloud Raises $14M Round

T2 Cloud, a Beijing-based cloud solutions provider, has raised a series B round investment of nearly RMB100 million (US$14 million).

An unnamed securities company led the round, with participation from Sinosoft Co., Ltd., a software and computer integrated system developer. As part of the investment, T2 Cloud has formed strategic partnerships with Sinosoft to expand into the financial industry.

T2 Cloud is in the process of raising a series B+ round, and is aiming to list on the domestic stock exchange within three years, according to a company announcement.

The market size of the Chinese cloud computing market will reach RMB75 billion (US$11 billion) in 2017, with the private cloud market contributing RMB46 billion (US$6.8 billion). That number is expected to exceed RMB135 billion (US$20 billion) and RMB83 billion (US$12 billion), ...

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