The funding was jointly led by GGV Capital, Access Technology Ventures, Anatole Investment, Jeneration Capital, and 5Y Capital (formerly known as Morningside Venture Capital). Coatue, Bertelsmann Asia Investment Fund (BAI), FutureX Capital, Kunlun Capital, Trustbridge Partners, and existing investors Matrix Partners China and Yunqi Partners also participated in this round.

Founded in 2015, PingCAP is an enterprise-grade software service provider committed to delivering an open-source, cloud-native, one-stop database solution for growth-oriented clients to focus on their businesses instead of housekeeping. PingCAP's flagship project, TiDB, is an open-source, distributed Hybrid Transactional/Analytical Processing (HTAP) database that features horizontal scalability, strong consistency, and high availability with MySQL compatibility. For more information, visit www.pingcap.com.