<article>Search engine company Baidu has led a RMB2.1-billion ($302-million) funding in Chengdu-based elevator advertising company XinChao Media to promote the digitalisation of China’s offline advertising.</article>

Search engine company Baidu has led a RMB2.1-billion ($302-million) funding in Chengdu-based elevator advertising company XinChao Media to promote the digitalisation of China’s offline advertising.
Baidu will leverage its big data and artificial intelligence capability to integrate with XinChao’s indoor advertising system, providing more accurate traffic solutions for enterprises and brands, the elevator TV advertising company said in a statement.
XinChao’s previous investors include Kingnet Network, Kuka Home and Opple Lighting.
Following the funding, XinChao has become a member of Baidu Juping&#8217;s (a Baidu unit) media alliance.
The company has deployed nearly 700,000 elevator TVs in more than 100 cities across China. It has also partnered with local majors like China Mobile and Huawei to build IoT-enabled smart marketing services.
Integrating digital innovation with indoor marketing has become more popular in China’s RMB650 billion ($93.5 billion) advertising market. China’s current biggest elevator advertising company is Focus Media, in which e-commerce giant Alibaba has acquired a minority stake.
Internet-based ad terminal and service provider Taoping in June secured a $1.6-million cloud-based ad terminal order. Earlier this year, GuangXue Media also bagged a $4.8-million series A funding.

Search engine company Baidu has led a RMB2.1-billion ($302-million) funding in Chengdu-based elevator advertising company XinChao Media to promote the digitalisation of China’s offline advertising.

Baidu leads $302m financing in elevator TV ad firm XinChao Media

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Baidu leads $302m financing in elevator TV ad firm XinChao Media

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