China's next-generation cloud storage solutions developer YanRong Tech has closed a 120 million yuan ($19 million) funding in its Series A+ round. The financing is led by Oceanpine Capital, followed by Cowin Capital, Oceanwide Investment, and former investor-Glory Ventures. Winsoul Capital facilitated the transaction.
YanRong Tech plans to use the corpus to develop its technology, products, service supports, markets and partnerships. YanRong Tech will continuously expand the distributed storage market and strengthen cooperation with ecological partners.
YanRong Tech will continue to build the technology leadership of products, and optimize the container application, hybrid cloud storage, unified unstructured data management, data lake and other scenarios. In terms of market promotion, YanRong Tech will expand the coverage of advantageous scenarios, including finance, education, manufacturing, energy, healthcare, government and so forth. In terms of ecological construction, YanRong Tech has established in-depth partnerships with various cloud manufacturers, operators and ecological channels to provide customers with massive data storage management in the cloud and AI / 5G era.
Dave Chenn, CEO and Managing Partner of Oceanpine Capital said: “Driven by ‘new infrastructure’ and ‘data intelligence’, there will be huge opportunities for technology upgrading in the cloud storage. Oceanpine Capital has long focused on entrepreneurs with self-developed core technology, independent intellectual property rights, and highly standardized product output. YanRong Tech’s high-performance storage products have been widely verified with good scalability and excellent performance. At the same time, YanRong Tech is also a rare storage provider that exports overseas. Oceanpine Capital is optimistic about the development prospect of software defined storage and the future growth potential of YanRong Tech, who is expected to be a leader of the next generation of cloud storage solutions。”
About YanRong Tech
Founded in 2016, with the mission of Drive Future Storage, YanRong is committed to improve the capability of enterprise data centers through the next generation of cloud storage technology, providing enterprises with a high-performance, agility and low-cost innovative storage solution.
YRCloudFile, as the core product of YanRong, is a unified storage platform for unstructured data. It can provide customers with high performance, high scalability and cloud-native unstructured data storage in public and private cloud environments. In 2019, YRCloudFile won the sixth place in the IO500 World Storage Performance Challenge. It made targeted optimization for AI scenarios, implemented SSD intelligent caching and NR replacement strategy for compute nodes to improve read hit rate by more than 500% YRCloudFile provides Windows client support, which improves performance by more than 800% compared to traditional SMB/NFS.
In the past five years since its establishment, YRCloudFile has served for hundreds of customers in production environments, including industry leaders such as China Mobile, KDDI, Tucson Future, MORE VFX, Rootcloud and Bank of China, covering application scenarios such as AI, autopilot, film and TV rendering, IoT, finance, etc. In 2020, YanRong obtained the first overseas customer of software-defined storage in China, served the autopilot business of international famous truck manufacturer, and completed the internationalization of products.
Source: YanRong Tech
