Chinese SaaS

Bertelsmann invests in manufacturing SaaS platform

The German media giant has co-led an investment in Black Lake through its Asia fund. It hopes that the data service platform will bring efficiencies to manufacturing companies.

Investors are becoming more and more interested in Chinese Software-as-a-Service SaaS companies.

Bertelsmann Asia Investments, an Asia-focused fund under the German media giant, and GSR Ventures have led an Rmb150 million $22.3 million Series B investment in software service platform Black Lake. GGV Capital and Zhen Fund also joined the fundraising.

It is the second largest Series B fundraising this year in the SaaS sector, according to data from research firm IT Juzi. SaaS-related investment is especially popular with investors at the moment. Two of Black Lake’s investors, ...

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