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Market Chatter: Jack Ma-Backed OceanBase Seeks Up to 3 Billion Yuan in Funding Round for AI Boost

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AI database service company Beijing OceanBase Technology is in talks to raise between 2 billion yuan and 3 billion yuan from a series A funding round, Bloomberg reported Wednesday, citing people familiar with the matter.

The Jack Ma-backed company is improving its AI analytics capabilities and boosting its handling of semi-structured and unstructured data, according to the report.

OceanBase was initially built to help with Ant Group's internal database management in 2010, according to the report.

The AI database company did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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