OceanBase, backed by Jack Ma, seeks RMB 2–3 billion in funding to expand its AI database services.

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OceanBase, a distributed database company backed by Jack Ma, is seeking a RMB 2–3 billion funding round to expand its AI database capabilities. Originally developed for Ant Group in 2010, the company is now enhancing AI analytics and processing unstructured data such as video. With recurring revenue exceeding $200 million in 2026 and a 70% year-over-year growth rate, OceanBase is expanding into Southeast Asia, Japan, India, and Latin America. In 2025, it ranked first in China’s distributed database market and faces competition from Huawei and Tencent. With current funding conditions favorable, OceanBase is also preparing for a potential spin-off, having established an independent board and an employee equity plan. Investors monitoring altcoins may also take note of this strategic development.

ChainThink reports that, on July 29, according to Bloomberg, sources familiar with the matter said that OceanBase, a distributed database provider under Ant Group, is in talks for a Series A funding round aiming to raise approximately RMB 2 to 3 billion to enhance its independent operational capabilities and support its expansion into AI database services.

OceanBase was developed in 2010 to meet Ant Group's internal database needs and is currently enhancing its AI analytics capabilities and improving its ability to process unstructured data such as video.

According to insiders, the company's recurring revenue for 2026 has exceeded $200 million, a 70% year-over-year increase. The report also states that OceanBase is expanding into Southeast Asia, Japan, India, and Latin America, following a trajectory similar to Databricks.

IDC data shows that OceanBase ranked first in market share for distributed databases in China in 2025.

Currently, OceanBase is competing with companies such as Huawei and Tencent, and has established an independent board of directors and an employee equity incentive plan in 2024 to prepare for a potential spin-off from Ant Group.

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