Backed by Jack Ma, OceanBase is planning a Series A round of financing totaling 2.0 to 3.0 billion yuan, with revenue projected to exceed 200 million yuan in 2026.

According to a July 29 report by Bloomberg, OceanBase (Beijing OceanBase Technology Co., Ltd.), a database company backed by Jack Ma, is in talks with investors for a Series A round. The company plans to raise about $295 million to $443 million to support independent operations and accelerate the development of its AI database business. Insiders said OceanBase’s annualized revenue in 2026 will exceed $200 million.

OceanBase Series A round key data: annualized revenue exceeds $200 million

Citing insiders (who asked to remain anonymous), Bloomberg reported the following on OceanBase’s core business and funding:

Series A round size: Plans to raise about 2 billion to 3 billion yuan (about $295 million to $443 million)

2026 annualized revenue: More than $200 million, up about 70% from 2025

China market position: An IDC report says OceanBase had the largest share in China’s distributed database market in 2025

Preparation for a spin-off listing: In 2024, it set up an independent board of directors and an employee equity incentive plan

Major customers: Industrial and Commercial Bank of China, China Mobile (thousands of customers, mainly in China)

Overseas expansion: Has entered Southeast Asia, Japan, India, and Latin America

OceanBase’s AI database strategy

According to Bloomberg, OceanBase is currently strengthening its AI analytics capabilities. In addition to processing structured data, it is also improving its ability to process semi-structured and unstructured data such as video.

Insiders said OceanBase wants to become a key infrastructure layer connecting enterprise data with AI models and AI Agents. The company lists Databricks as a benchmark. In February, Databricks said its annual revenue is expected to reach $5.4 billion, including $1.4 billion from AI products. In the global market, OceanBase also faces competition from technology companies such as IBM, Snowflake, and AWS.

FAQ

What is the target amount for OceanBase’s Series A round?

Based on Bloomberg’s July 29, 2026 report, OceanBase plans to raise about 2 billion to 3 billion yuan (about $295 million to $443 million) through its Series A round to support independent operations and accelerate the development of its AI database business.

What is OceanBase’s expected annualized revenue for 2026?

Insiders said OceanBase’s annualized revenue in 2026 will exceed $200 million, up about 70% from 2025.

What is OceanBase’s position in the Chinese market?

According to an IDC report, OceanBase held the largest share in China’s distributed database market in 2025, with key competitors including Huawei Technologies Co., Ltd. and Tencent Holdings Limited.