XSky Secures $62.8 Million in F Round Financing, Source Code Capital Participates in Investment

XSky Data Technology, a China-based technology company focusing on software-defined infrastructure products and services, announced the completion of round F financing in which it garnered 400 million yuan ($62.8 million), with Tencent, Source Code Capital and V Fund participating.

Following the announcement in September this year that Kunlun Fund participated in the firm’s E-round financing, XSky has achieved cumulative financing of over 1 billion yuan in 2021.

XSky revealed that it will use the raised funds to further increase its investment in core technology R&D, build the technological capability of its industrial chain and strengthen its services to customers in key industries.

Established in 2015, XSky has grown into one of China’s leading data infrastructure technology platforms. In terms of products, XSky provides solutions including converged storage, distributed data storage platform and hybrid cloud storage.

Software-Defined Storage (SDS) can be understood as establishing a general virtualization platform on the server, and managing and scheduling all hardware storage resources through software. This makes them more flexible than traditional storage area network (SAN) or network-attached storage (NAS) programs that are attached to the hardware. In this field, there are major companies like Huawei, Inspur, H3C, VMware and startups such as XSky.

SEE ALSO: Source Code Capital Announces Chang Kaisi As Partner: Previously Participated in ByteDance Investment

According to IDC, XSky ranks fourth in the overall market of software-defined storage in China in 2020, and has ranked first in the object storage market for three consecutive years.

XSky has applied for and obtained 390 independent intellectual property rights and about 70 core algorithm patents. It has taken the lead in formulating national and industry standards for cloud storage resource management and distributed storage. The company is also a member of more than ten international and Chinese technical organizations.