# ZStack funding: rounds and investors

> ZStack has raised $14M across 2 rounds since 2018. Investors include Shenzhen Capital Group Co., Legend Capital and Alibaba Group. Every round with its source.

Source: https://millionrounds.com/company/zstack (Millionrounds; every figure on the page links to its filing or article)

China · [Venture startup](https://millionrounds.com/companies)

# Who invested in *ZStack*

2 rounds we have observed, with the 4 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Cloud

Funding summary Updated 26 Oct 2026

**$14M** raised across 2 rounds since 2018, from 2 sources

- **Latest round:** Venture Jan 2025
- **Biggest round:** $14M Series A · Dec 2018
- **Investors:** 4

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2019 2020 2021 2022 2023 2024 2025

**$14M** Series A

**?** Venture

- **First round:** Series A, $14M
- **Biggest round:** $14M
- **Between rounds:** 6.1 years

## The rounds

- **Jan 2025** Venture **Amount undisclosed** *3 new* [Shenzhen Capital Group Co.](https://millionrounds.com/fund/shenzhen-capital-group) [Legend Capital](https://millionrounds.com/fund/legend-capital) [Alibaba Group](https://millionrounds.com/fund/alibaba-group) Source recorded
- **Dec 2018** Series A **$14M** *1 new* Shenzhen Venture Capital Reported by China Money Network

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Series A** 2018 **Venture** 2025 [Shenzhen Capital Group Co.](https://millionrounds.com/fund/shenzhen-capital-group) [Legend Capital](https://millionrounds.com/fund/legend-capital) [Alibaba Group](https://millionrounds.com/fund/alibaba-group) Shenzhen Venture Capital

## Everyone who backed them

[Shenzhen Capital Group Co.](https://millionrounds.com/fund/shenzhen-capital-group) Government **1** round

[Legend Capital](https://millionrounds.com/fund/legend-capital) VC firm **1** round

[Alibaba Group](https://millionrounds.com/fund/alibaba-group) Corporate VC **1** round

Shenzhen Venture Capital no record of our own yet **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=zstack).

## Quick answers about ZStack

### Who invested in ZStack?

ZStack's investors include Shenzhen Capital Group Co., Legend Capital, Alibaba Group and Shenzhen Venture Capital.

### How much has ZStack raised?

ZStack has raised $14M across 2 rounds since 2018. One round did not disclose an amount, so the total is a floor.

### When did ZStack last raise?

ZStack's most recent round was a Venture in Jan 2025.

### What was ZStack's biggest round?

ZStack's largest round on record is $14M (Series A), in Dec 2018.

### Who backed ZStack first?

ZStack's first round on record, in Dec 2018, was backed by Shenzhen Venture Capital.

### What stage is ZStack at?

ZStack's latest named round is a Venture, in Jan 2025.

### Where is ZStack based?

ZStack is based in China.

## Companies like ZStack

In the same sector, and raised in the last eighteen months.

[**Infinigence AI** $344M · Oct 2026](https://millionrounds.com/company/infinigence-ai)[**ByteDance** $33B · Sept 2026](https://millionrounds.com/company/bytedance)[**SpaceX** $42B · Oct 2026](https://millionrounds.com/company/spacex)[**Nebius Group** $4.2B · Oct 2026](https://millionrounds.com/company/nebius-group)[**Blacksmith** $131M · Oct 2026](https://millionrounds.com/company/blacksmith)[**Blackwall** $162M · Oct 2026](https://millionrounds.com/company/blackwall)

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