Chinese Software Startup PingCAP Raises $15M in Series B

BEIJING, June 20, 2017 /PRNewswire/ -- PingCAP, the commercial entity created by the developers of the open source TiDB database project, announced it has raised $15M in Series B funding led by China Growth Capital. All previous investors, Matrix Partners China, Yunqi Partners, FreeS Fund, and K2VC, also participated in the round.

The company will use the funding to expedite product development and expand presence in global market.

Inspired by Google Spanner and F1, the company builds an open source distributed HTAP (Hybrid Transactional / Analytical Processing) database TiDB. TiDB is fully compatible with MySQL and offers infinite horizontal scalability and extremely high availability and performance. The goal of TiDB is to serve as a one-stop solution for online transactions and analysis.

TiDB is one of the most active open source database projects on Github. It has got more than 8500 stars and 1100 forks.

TiDB is production proven and has been widely adopted by companies from the online gaming, financial services and telecommunications industry. Gaea Mobile, a global interactive entertainment company, replaces MySQL with TiDB in its real-time advertising system. Mobike, the world's largest bicycle operator, uses TiDB for online orders and big data analytics.

"We are impressed with TiDB's creative solutions towards database scalability. Traditional relational databases can't handle big data, and you see why customers are lining up to use TiDB.", said Yi Pin NG, Founding Partner at Yunqi Partners. Prior to starting Yunqi in 2014, Yipin spent 2004-2014 at GGV Capital of which the first 4 years was in the silicon valley office.He led and participated in multiple investments in the mobile hardware,  Advance Manufacturing and TMT sector. These investments include AAC Technology (HKSE: 2018.HK), Sinosun (Chinex: 300333.SZ) and Heptagon (Acquired by AMS).

About PingCAP

PingCAP was founded by Max Liu, Edward Huang and Qiu Cui in 2015. It is headquartered in Beijing and has offices in Shanghai, Guangzhou, and Zhuhai. PingCAP is the owner and maintainer of TiDB, an open source distributed HTAP (Hybrid Transactional / Analytical Processing) database. Learn more at http://www.pingcap.com/ or check out the open source project at https://github.com/pingcap/tidb

SOURCE Yunqipartners

Related Links

http://www.pingcap.com/