Yunxi Technology raises 350 m yuan in series B round

Chinese startup Yunxi Technology said it has raised 350 million yuan ($49.6 million) in its series B round of financing from investors, including Sequoia Capital China, as the company works hard to help local enterprises accelerate digital transformation.

Founded in 2016, Yunxi is a partner of Alibaba Group's cloud unit and it is dedicated to leveraging its technological edge to help more local companies from more industries embrace digital marketing solutions.

The company is also funded by Yunfeng Capital, a private equity firm backed by Alibaba founder Jack Ma. Yunxi said it aims to partner with more than 100 industrial leaders and more than 1,000 enterprises that are eager to adopt digitalization to explore how to refine business scenarios and boost operational capabilities.

Bao Zhigang, CEO of Yunxi, has been working in the enterprise IT service market for more than 20 years. Bao said consumers need a platform that can support second-level, omni-channel, real-time transactions. Yunxi can help enterprises build such a platform with a flexible internet architecture.

Yunxi's clients now include Guangzhou Zhujiang Brewery Group, R&F Properties, Midea Real Estate and Changan Automobile.