Chongqing-based Checheying Network Technology, operator of smart LED display platform for vehicles Lunubao, recently announced the completion of RMB 30 mln in pre-Series A funding from Chongqing Co-harvest Equity Investment Fund Management and Dongfeng Xiaokang Industry Fund.
The Lunubao product, which consists of a smartphone app, smart LED displays, and a cloud services platform, allows car owners to display real-time information such as the driver's feelings, conditions inside the car, traffic conditions, weather information, and citizen services information from governmental departments. It also has the ability to automatically remind drivers to turn headlights on or off, to stay on course, and to apply the brakes. An on-board Wi-Fi feature was also launched in March. The screens are primarily installed in the back of cars, to allow other drivers to read the text.
Lunubao founder Tan Xinkui believes that the company is also part of the sharing economy. Apart from being able to share their own messages, users can also set Lunubao to display push notifications and advertisements. By enabling platform advertisements from within the app, users will be able to receive a certain amount of income for ads displayed.
Checheying Network Technology was established in July 2015.
Editor's Note: Lunubao customer service told Marbridge via telephone that adverting revenues are split as follows: 70% to the device owner, 30% to the platform. Users also have the option, instead of buying the device, to simply rent a Lunubao LED display, and in this case, advertising revenues are split 50% to the vehicle driver and 50% to the platform.