Black Lake Technologies Funding, Investors & Competitors

Black Lake Technologies has raised $258M across 6 funding rounds, most recently a $146M Series D in April 2026.

Last Black Lake Technologies funding round

$146M

Series D · Apr 2026

Cumulative funding Black Lake Technologies raised

$258M

across 6 funding rounds

Key investors in Black Lake Technologies

  • GGV Capital
  • GSR Ventures
  • BAI capital
  • ZhenFund
  • IDG Capital
  • Temasek
  • China Growth Capital
  • Lightspeed China Partners

Black Lake Technologies Overview

About Black Lake Technologies

Black Lake Technologies is a Shenzhen-based provider of manufacturing collaboration platforms using mobile, IoT, and web technologies. Its solutions capture real-time data from factory floors for visualization, monitoring, and analysis, enabling decisions from executives to line workers. Clients include Fortune 500 manufacturers in electronics and automotive sectors across China.


Founded

2016

HQ

ChinaShanghai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Black Lake Technologies Funding History

Black Lake Technologies has raised a total of $258M across 6 funding rounds.

Black Lake Technologies' first fundraising round was a $1M seed round in June 2016. The most recent completed round was a $146M Series D in April 2026.

Black Lake Technologies funding rounds

Black Lake Technologies funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2026Series D-$146MShanghai Black Lake Network Technology Co., Ltd. raised approximately CNY 1 billion in Series D funding in April 2026. This marked their fifth funding round. The company provides cloud-based manufacturing solutions to digitize factories. Previous rounds include Series C of RMB 500 million in February 2021 led by Temasek Holdings with participation from BAI Capital and GSR Ventures, Series B of RMB 150 million led by GSR Ventures and Bertelsmann Asia Investments, and earlier funding bringing total raised prior to Series D over RMB 500 million from investors including GGV Capital and ZhenFund.
Feb 2021Series CTemasek (lead); Lightspeed China Partners; ZhenFund; China Renaissance; GSR Ventures; GGV Capital; BAI capital$77MBlack Lake is a software platform founded in 2016 that serves as a collaboration tool for factory workers and managers, enabling them to log daily tasks and providing oversight capabilities across the plant floor. The platform digitizes data from all stages of production, including client orders, material procurement, quality compliance, warehouse management, logistics, and shipment, while analyzing this data to generate reports for management to identify production abnormalities and for workers to increase their output and income. In February 2021, Black Lake closed a Series C funding round of nearly 500 million yuan (approximately $77 million USD), led by Singapore's sovereign wealth fund Temasek, with participation from returning investors and new backers including China Renaissance and Lightspeed Venture Partners. By the time of the funding round, the company had served nearly 2,000 manufacturers and suppliers across the Greater China Region and Southeast Asia, with customer relationships including Tesla, L'Oréal, Xiaomi, Sinopec, and China Resources' pharmaceutical group, while claiming to have reached 500,000 production workers. The company planned to deploy proceeds toward product development, hiring, market expansion, and building an open platform for third-party developers, while establishing partnerships with leading technology and consulting firms such as Huawei, Alibaba, SAP, and McKinsey.
May 2019Series BGSR Ventures (lead); GGV Capital; BAI capital$22MBlack Lake Technologies is a Shanghai-based Chinese SaaS provider founded in 2016, offering cloud-based Manufacturing Execution System (MES) and data analysis tools for the manufacturing industry. The software enables quick installation in two months without altering product lines, reducing production cycles and penalty rates by 35% on average. Clients include major firms like China Resources Group, Anheuser-Busch InBev, and McDonald’s, with around 20 early clients from before April 2018 all renewing contracts. In June 2019, the company raised RMB 150 million (approximately $22 million) in a Series B round led by GSR Ventures, with participation from Bertelsmann Asia Investments (BAI), GGV Capital, and Zhen Fund. GGV Capital's Joshua Wu highlighted the team's role in China's manufacturing digital upgrade. Black Lake reported RMB 40 million in revenue for 2018, with subscription pricing for clients at RMB 150,000 to 250,000 annually for those with RMB 100 million production value. Founder and CEO Zhou Yuxiang, a Dartmouth graduate and former Canadian sovereign wealth fund investment manager, leads the company. The firm has continued raising capital, including a $77 million Series C in early 2021 led by Temasek, focusing on industrial digital upgrades amid China's manufacturing shift to SaaS solutions.
May 2018Series ABAI capital (lead); GSR Ventures$8MBlack Lake Technologies is a Shanghai-based SaaS provider offering cloud-based Manufacturing Execution System (MES) and data analysis tools for the manufacturing industry since 2016. The platform collects data from workers, machines, control systems, robots, and corporate software to guide production, increase efficiency, and reduce costs, with installation possible in two months without revamping product lines. It achieved average reductions of 35% in production cycles and penalty rates. In 2018, BAI Capital led Black Lake's Series A funding round when the startup had only three clients. All around 20 clients who signed contracts before April 2018 renewed them, including China Resources Group, Anheuser-Busch InBev, and McDonald’s. The company earned RMB 40 million in revenue in 2018, with clients paying annual subscriptions of RMB 150,000 to RMB 250,000 for those with RMB 100 million production value. Founder and CEO Zhou Yuxiang, a Dartmouth graduate and former investment manager at a Canadian sovereign wealth fund, leads the company. Subsequent rounds included a RMB 150 million Series B in 2019 led by GSR Ventures and BAI, and a Series C in 2021 led by Temasek.
May 2017Series AGGV Capital (lead)$4MBlack Lake Technologies is a Shanghai-based SaaS startup founded in early 2016 that provides cloud-based Manufacturing Execution Systems (MES) using IoT, mobile, and data solutions to optimize manufacturing processes, equipment use, and production for factories. The company completed a RMB 10 million ($1.4 million) Series A round led by GGV Capital, with participation from angel investors Zhen Fund and China Growth Capital. This followed a $1 million angel round in June 2016. Black Lake's solutions help manufacturers address challenges like weak income growth and declining profit margins amid China's economic slowdown and rising labor costs by leveraging factory data for better insights. The team includes alumni from IBM, ABB, Foxconn, Ele.me, Ctrip, and Morgan Stanley. CEO Zhou Yuxiang, a former finance professional, started the company in 2015.
Jun 2016SeedZhenFund; IDG Capital; China Growth Capital$1M-

Who has invested in Black Lake Technologies?

9 investors have backed Black Lake Technologies across its funding rounds, including GGV Capital, GSR Ventures, BAI capital, ZhenFund, IDG Capital and Temasek.

Lead investors include Temasek, GSR Ventures, BAI capital and GGV Capital.


Black Lake Technologies Investors

Investors in Black Lake Technologies by funding rounds participated
InvestorHQRoundsRoleFirst check
GSR VenturesUnited StatesSan Francisco, CA3LeadMay 2018
GGV CapitalUnited StatesSan Francisco, CA3LeadMay 2017
BAI capitalChinaBeijing3LeadMay 2018
ZhenFundChinaBeijing2ParticipantJun 2016
TemasekSingaporeSingapore1LeadFeb 2021
Lightspeed China PartnersChinaShanghai1ParticipantFeb 2021
IDG CapitalChinaBeijing1ParticipantJun 2016

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Black Lake Technologies Competitors

Black Lake Technologies competitors include listed companies like PTC, EquipmentShare.com, Octave Intelligence and Autodesk, and private ones like Celonis and Uptake Technologies.

Public and private companies comparable to Black Lake Technologies
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PTCUnited StatesUnited StatesPublicly listed$2.7B$1.1B$15B5.8x
CelonisGermanyMunichPrivate$400M-$13B32.5x
EquipmentShare.comUnited StatesUnited StatesPublicly listed$4.4B$704M$4.6B1.8x
Uptake TechnologiesUnited StatesUnited StatesPrivate$100M-$2.3B23.0x
Octave IntelligenceUnited StatesUnited StatesPublicly listed$1.6B$530M$5B3.3x
AutodeskUnited StatesUnited StatesPublicly listed$7.2B$1.8B$46B5.7x

Black Lake Technologies Public Comps

Black Lake Technologies is still privately-owned, but its public comps include Palantir, ServiceNow, Johnson Controls, Datadog, Cadence Design Systems, RELX, Strategy, Autodesk, Constellation Software and Dassault Systemes.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x
Johnson Controls$24B$3B4.0x3.7x31.0x20.0x
Datadog$3.4B($588K)23.6x19.4x(137813.0x)77.6x
Cadence Design Systems$5.3B$1.8B14.8x13.0x44.3x27.3x
RELX$13B$4.9B5.5x5.3x14.4x13.2x
Strategy$477M($5.4B)149.4x144.4x(13.1x)(12.3x)
Autodesk$7.2B$1.8B6.3x5.7x25.6x14.1x

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Common questions about Black Lake Technologies

When was Black Lake Technologies founded?Black Lake Technologies was founded in 2016.
Where is Black Lake Technologies headquartered?Black Lake Technologies is headquartered in Shanghai, China.
Is Black Lake Technologies publicly listed?No, Black Lake Technologies is a private, VC-backed company.
How much funding has Black Lake Technologies raised?Black Lake Technologies has raised $258M across 6 funding rounds.
What was Black Lake Technologies' last funding round?Black Lake Technologies' last funding round was a $146M Series D in April 2026.
Who are Black Lake Technologies' investors?Black Lake Technologies' investors include GSR Ventures, GGV Capital, BAI capital, ZhenFund, Temasek, Lightspeed China Partners, IDG Capital, China Renaissance and China Growth Capital.
Which companies are comparable to Black Lake Technologies?Companies comparable to Black Lake Technologies include PTC, Celonis, EquipmentShare.com, Uptake Technologies, Octave Intelligence and Autodesk.

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