Google Capital, along with Lightspeed China Partners, co-led a Series C round of funding totaling $38 million into InnoLight Technology, according to a new report from The Wall Street Journal.
This would be Google Capital’s first investment in China. InnoLight makes high-speed optical receivers used by computer servers.
This marks the ninth investment by Google Capital, the growth-stage investment arm of Google announced back in February. Last month, Google announced it was leading a $100 million investment in Thumbtack.
The Journal says, “Global investors are now vying for exposure to Chinese technology startups in the wake of e-commerce company Alibaba’s $25 billion initial public offering in the U.S. Competition for Chinese technology companies is even heating up among domestic strategic investors including Baidu, Alibaba and Tencent as they seek to acquire shares in smaller companies to supplement their own businesses.”
I guess we shouldn’t be surprised if Google makes additional investments in the country.
In addition to InnoLight and Thumbtack, Google Capital counts SurveyMonkey, LendingClub, Renaissance Learning, Auction.com, Credit Karma, Freshdesk, and MapR among its investments.
Image via InnoLight