Wenge Tech, a CAS-owned data analytics business targeting media applications, has attracted Cash Holdings and CAS Star for its latest round.
Wenge Tech, a China-based big data analytics company formed by Chinese Academy of Sciences (CAS), has closed a RMB200m ($28.7m) series C round featuring CAS investment subsidiaries Cash Holdings and CAS Star, DealStreetAsia has reported.
State-owned investment firm Shenzhen Capital led the round, which also featured CAS’s Institute of Automation and JC Capital – a partnership of crypto investment bank JRR Crypto and investment firm Consensus Invest.
Investment firm Youbang Investment and early-stage venture firm FH Capital filled out the round.
Founded in 2017 and known formally as Beijing Wenge Group, Wenge Tech offers big data analytics products equipped with natural language processing to scrutinise information in enterprise sectors such as media.
Customers using the technology include more than 200 Chinese state institutions, among them newswire Xinhua News Agency and daily newspaper China Daily.
Wenge Tech collected $14.5m of series B funding in a May 2019 round featuring CAS Star, Youbang and Qianhai Hengbang, after a series A round of undisclosed size backed by Blue Ocean Capital Group in 2018, according to DealStreetAsia.
