Chinese startup VirtAl Tech closes tens of millions of dollars in Series B financing

Jul 15, 2021

 

VirtAl Tech recently completed of tens of millions of US dollars in a Series B financing led by Prosperity7 Ventures, an investment arm of Arabian-American oil giant Saudi Aramco. 

And the other investors include Oriza Prior, Shunwei Capital, GL Ventures, Vision Knight Capital and CMB International's telecom fund —a joint fund co-launched in 2017 by China Merchants Bank's CMB International and China Telecom.

Meanwhile, Index Capital continues to act as the exclusive financial advisor for the deal. This is the second round of financing after the Series A+ financing in February this year, and the fifth financing round completed since the company was established two and a half years ago. The company plans to use the funds to construct the company's customer service system and to further increase investment in research and development and accelerate product iteration.

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