Transwarp, a Qiming Venture Partners portfolio company and China's leading software developer of enterprise big data infrastructure, successfully lists on the STAR board of Shanghai Stock Exchange today. Transwarp (SHSE: 688031) is issued at RMB 47.34/share and opened at RMB 72/share, up by 52.09%, with a market capitalization of RMB 8.701 billion.
As an early investor, Qiming Venture Partners led the company's Series A+ round back in 2015 and continued to invest in Series B, accompanying the growth and expansion of the company along the way. Transwarp's successful IPO is also the 7th IPO for Qiming Venture Partners since the beginning of 2022.
Transwarp is a pioneer in the development of big data infrastructure software in China, providing infrastructure software and services of the entire data life cycle, including data integration, storage, governance, modeling, analysis, mining and circulation. The company has formed a software product portfolio of big data and cloud infrastructure platform, distributed relational database, data development and intelligent analysis tools, supporting customers and partners to develop data application systems and business and helping them to realize digital transformation.
After years of independent R&D, Transwarp's big data infrastructure platform and distributed analytical database have reached the advanced level of the industry. The company has accumulated more than 1000 end-users across many sectors, including finance, government, energy, transportation, and manufacturing, and has a wide customer base.
Sun Yuanhao, Founder and CEO of Transwarp, said, "Applying the new generation of information technology to all walks of life and promoting digital transformation is no less than a new industrial revolution. Since its establishment, Transwarp has become an innovator in the field of big data infrastructure software in China by following the path of independent R&D."
He believes that IPO is a new starting point for the company, and Transwarp will continue to take the mission of leading industry technology development and helping digital transformation, strengthening basic software development and innovation, promoting the implementation of more application scenarios, realizing multi-domain and multi-industry integration development, and jointly opening the era of converged data cloud.
Kuantai Yeh, Partner of Qiming Venture Partners, said, "I am glad to witness another milestone moment of Transwarp. I have known the founding team for many years, and it is the first enterprise software company I invested at Qiming. Over the past 8 years, we have witnessed Transwarp's continuous efforts to innovate and improve its products, breaking the dominance of international players in the field of big data infrastructure software. With this IPO opportunity, we expect Transwarp to go deeper, broader, and further to meet various data intelligence needs and make more product innovations, as well as continue to broaden its business areas to become an industry leader, contributing to China's digital transformation.”
