Tencent co-leads big data firm MiningLamp's $159m Series C round

China Renaissance's Huaxing Growth Capital and Tencent Holdings have led an RMB1 billion ($159 million) Series C funding round into Beijing-based big data analysis solutions provider MiningLamp Software, according to China Renaissance's official WeChat account. Established in April 2014 by AI expert Wu Minghui, China-based MiningLamp Software specialises in big data business solutions. Its products include LiteMind, a human-robot interaction system, and Nest, a database that can store and search data and images. "We interviewed banks, police and public transportation companies and were surprised that many traditional firms are already embracing big data," China Renaissance managing director Du Yongbo was quoted as saying in a China Money Network report. "But many companies complain that they have difficulty finding data service providers, which provides opportunities for MiningLamp."