Touchmedia, a Chinese touchscreen media technology company, has closed a new round of financing of undisclosed amount.
The round was led by Founder and CEO Micky Fung and his affiliate companies, with participation from new participants including Maggie Choi, Touchmedia’s new MD for Hong Kong, and existing investors Qi Ming Venture Partners, TLC Capital, Mustang Ventures.
The company intends to use the new funds to focus on development in China increasing depth of penetration in existing cities, expanding current number of cities to others and introducing new innovative functions, in particular exploiting the convergence between new media and mobile phones.
Founded in 2003 Touchmedia uses state-of-the-art touchscreen technology to deliver advertising experiences for consumers. The first use of its expertise is in the interactive touchscreen system for headrests in taxis, which offer a big opportunity to capture a highly desirable, affluent demographic, when they sit back and can be entertained or informed.