Touchmedia Secures RMB 100 Mln Third-Round Funding

Touchmedia PR, 5/26/09

Chinese in-vehicle digital media firm Touchmedia today announced that it had completed its latest round of financing, worth over RMB 100 mln. The round was led by China Development Financial Holdings affiliate CDIB Capital, and joined by investors from previous rounds, including TLC Capital, Qiming Ventures, Mustang Ventures, and founder and CEO Micky Fung and his affiliate companies.

Currently Touchmedia has more than 100,000 taxis under contract and is operating in 4 cities: Beijing, Shanghai, Guangzhou and Shenzhen. Fung advised that the system would be launched in a number of other cities within the next 12 months and that international launches were being considered.

Keywords: in-vehicle display out-of-home display CDIB China Development Financial Holdings TLC Capital funding Micky Fung Mustang Qiming television Touchmedia

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