IDG Capital, a Beijing-based global investment and asset manager, led a $122m series C investment round in Rootcloud, a Chinese IoT platform A slew of new investors participated in the latest round - Chinese tech giant Tencent, manufacturing-focussed Haitong Investment, KY Private Equity Fund, which targets technology innovation, clean energy, smart manufacturing and smart cities, China Cinda Asset Management and Existing backer ZWC Partners. “Going forward, Rootcloud will continue to focus on IoT platform services and solutions driven by technology innovations, as well as to establish an emerging IoT ecosystem in partnerships with counterparts,” Dongdong He, Rootcloud co-founder and CEO.