Alibaba-supported OceanBase Seeks $2-3 Billion in Funding to Boost AI Database Business

BlockBeats News, July 29th, according to Bloomberg, sources revealed that OceanBase, a distributed database vendor under Ant Group invested by Jack Ma, is seeking to raise funds. The company is in discussions for a Series A funding plan to raise around 2 to 3 billion RMB to help operate more independently and to provide funding for its expansion into the AI database service field.

The report stated that OceanBase was developed in 2010 to meet the internal database needs of Ant Group. It is currently enhancing its AI analytics capabilities and improving its ability to process unstructured data such as videos. Sources said that the company's 2026 annual recurring revenue has exceeded $200 million, a 70% year-on-year growth, and is expanding into the Southeast Asia, Japan, India, and Latin America markets, benchmarking Databricks' development path.

According to IDC data, OceanBase ranked first in the Chinese distributed database market share in 2025. Currently, the company is competing with vendors such as Huawei and Tencent. In 2024, OceanBase established an independent board of directors and an employee stock incentive plan in preparation for a future spin-off from Ant Group.