Middle Platform Provider Startdt Closes CNY 150 Million Series B1 Funding
Middle platform refers to platforms that connect a company's internal systems such as ERP (Enterprise resource planning), CRM (Customer relationship management) to external systems like product management and stock management.
On September 28, Startdt, a data service provider in China, announced that it had recently completed a B1 round of financing of CNY 120 million. Volcanics Investment Management and DT Capital Partners jointly led the financing, and Morningside Venture Capital and Yuan Yi Capital co-invested.
The cash proceeds will be mainly used on research & development and talent recruitment.
Founded in 2016, the Hangzhou-based company deploys self-developed AI-driven middle platforms to help enterprises to finish jobs in the data management life cycle like data collecting automation, intelligent data governance and data assets privatization. Startdt offers services to over 500 clients, including LVMH, lemon and CapitaLand.
Most of the founding team came from Alibaba, which the founder also the CEO, Mr. Zhang Jinyin, is the founder of Alibaba's big data platform, the builder of Alibaba's first data warehouse.
According to iResearch's 2019 China's Digital Middle Platform industry research report, in 2018, the scale of China's Digital Middle Platform was CNY 2.22 billion. It will maintain a compound annual growth rate of 72.1% in 2019-2022, reaching 17.94 billion yuan in 2022.