The investment arm of Australian telecommunications provider Telstra has made a strategic investment in Chinese cloud services provider Qiniu as it continues to grow its Asian presence. The terms of the investment were not disclosed.
Telstra’s investment is part of a $100 million Series D funding round, where it was joined by Harvest Global Investments and China Broadband Capital.
Founded in 2011, Qiniu is based in Shanghai and provides cloud storage solutions. Telstra said that Qiniu’s location and customer base were of particular interest as Telstra has aggressively been investing in the region. The Australian company has made five venture investments in Asia in just over a year, completing the acquisition of Asian data center services provider Pacnet in April 2015.
“The opportunities created by the digital explosion underway across Asia, particularly in the Chinese market, underpin this latest investment. With its unique, global-distributed architecture and bi-directional acceleration technology, Qiniu enables enterprise customers to collect, store and analyse huge amounts of data,” Telstra Ventures managing director Matthew Koertge said in a statement. “China is an important market for Telstra as we grow our international business. In addition to our shareholding in leading online automobile business Autohome, Telstra has a presence in the Chinese enterprise and data centre market through our joint venture company, PBS. We will now look for opportunities to work with Qiniu to enhance our offering both inside China and beyond.”
According to Koertge, since 2014 Telstra has invested in Singaporean-based Near and enepath, Gorilla Technology Group from Taiwan, and made a Limited Partner investment in the Monk’s Hill Ventures Innovation Fund.
Telstra is of course not the only company looking to China for investment opportunities. In September, Dell partnered with Kingsoft as part of a $1 billion tech investment in the region.