OceanBase, a Beijing-based database software company spun out from Ant Group, is seeking 2 billion to 3 billion yuan (US$295 million to US$443 million) in series A funding.

The funding will support independent operations and expand into AI database services, according to people familiar with the matter.

The company is raising the funds after a shareholder restructuring that left it no longer wholly owned by Ant. Ant said OceanBase would have its own board and employee share option plan as part of the separation.

OceanBase’s core product is an open-source distributed relational database used by Alipay to support high-volume Singles’ Day transaction processing.

Its AI push builds on Lakebase, which supports vectors alongside data such as documents, images, and video.

People familiar with the matter said OceanBase had more than US$200 million in annualized revenue in 2026.

Its customers are mostly in China, including Industrial & Commercial Bank of China and China Mobile.

🔗 Source: Bloomberg