Jack Ma-backed OceanBase is seeking to raise about 2 billion to 3 billion yuan, equivalent to $295 million to $443 million, in series A funding to operate more independently and expand into AI database services. The Beijing-based company, originally built to support Ant Group's internal database management in 2010, is now bolstering its AI analytics capabilities to handle semi-structured and unstructured data like videos. OceanBase had more than $200 million in annualized revenue in 2026, up 70% from the previous year, and counts Industrial & Commercial Bank of China and China Mobile among its thousands of predominantly Chinese clients. The firm is looking at San Francisco-based Databricks as a benchmark and held the largest market share in China for distributed databases in 2025, according to IDC. OceanBase set up an independent board and employee share-based rewards program in 2024 to pave the way for an eventual spinoff from Ant Group, which is about one-third owned by Alibaba Group Holding.
OceanBase is raising $295M-$443M in Series A funding to expand AI database services, indicating strong investor confidence and growth capital.
Ant GroupPrivate± Mixed
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Ant Group is the parent of OceanBase, but the article focuses on OceanBase's independent fundraising; no direct impact on Ant Group.
Databricks, Inc.Private± Mixed
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