Beijing-based PingCAP, a distributed database company that created cloud-native NewSQL database TiDB, today announced that it has raised US$50 million in series C financing round from Fosun and Morningside Venture Capital. Existing investors including China Growth Capital, Yunqi Partners, Matrix Partners China, among others, also participated in this round. Founded in 2015 by engineers and architects who formerly worked at Twitter, JD.com, Baidu.com, Qihoo 360, among others, PingCAP is dedicated towards building an open source distributed NewSQL hybrid transactional and analytical …

Fosun, Morningside Venture Capital Lead $50M Series C Round In China’s Distributed Database Firm PingCAP appeared first on China Money Network.