XinChao, the owner of a network of more than 700,000 elevator advertising screens, has secured funding in a round led by strategic partner Baidu.
Internet group Baidu led a RMB2.1bn ($302m) round for China-based elevator advertising service XinChao today in connection with a partnership agreement between the companies.
Founded in 2007, XinChao operates an advertising service that promotes customers through LED screens installed in a total of more than 700,000 elevators across China.
The company has agreed to join Baidu’s advertising network, Baidu Juping, which is present in 31 Chinese provinces and regions, and it intends to leverage the corporate’s artificial intelligence technology to…
