PPIO, a Chinese edge cloud computing services provider, announced it has raised RMB 250 million (approximately US$37.6 million) in Series A funding to broaden its presence and invest in technology and R&D.
The company, founded in 2018, is described as a provider of edge cloud computing services and solutions to meet the demand for low latency, high bandwidth, and large-scale distributed processing systems. Additionally, it offers audio and video management, cloud security, and application performance optimization. PPIO is said to serve clients in over 1000 cities and over 30 regions in China.
PPIO’s clientele is said to be primarily long and short video platforms, live streaming platforms, and cell phone manufacturers. It also claims to have customers from internet companies, cloud computing service providers, and unicorn-level startups.
“The migration of data storage to end devices from the central cloud is picking up pace, and the trend will be here to stay. Latency and bandwidth requirements will only be ever more stringent for application scenarios with end devices,” says Xin Yao, founder and CEO of PPIO.
The Series A funding was provided by Panlin Capital, China Creation Ventures (CCV), Shanghai Zhangjiang Technology Venture Investment, and IMO Ventures. There was also continued funding from existing investor BlueRun Ventures China (BRV China). Crunchbase says PPIO has raised a total of US$97.5 million.
Jui Tan, managing partner at BRV China, says, “We believe that the maturity of low latency computing is essential for many applications, such as cloud gaming, AR/VR, space digitization, metaverse and other next-generation life and work scenarios, to break into the mainstream consumer market and become truly viable businesses.”
With the funding, PPIO says it will invest in enhancing proprietary technology and edge infrastructure, and spend more on R&D in applications that use ultra-low latency like live streaming, cloud gaming, cloud rendering, connected vehicles and space digitization.
BlueRun Ventures | China | edge cloud | latency | PPIO | venture capital