Tencent leads $296 million Series D round in Chinese big data solutions provider

Chinese big data solutions provider MiningLamp Technology announced on Wednesday that it has raised RMB 2 billion ($296.77 million) in a Series D round of financing led by Tencent, as the company ramps up efforts to further enhance its strengths in artificial intelligence (AI). Huaxing Growth Capital, an investment unit of Chinese investment bank China Renaissance, property trust manager AVIC Trust, and a Beijing-based investment company, also poured money into the new round, said MiningLamp Technology in the statement posted on its website. Along with the investment, the company also officially rebranded itself from “MiningLamp” to “MiningLamp Technology.”