Kinzon Capital, the venture capital firm formed by diversified conglomerate Fosun, has contributed to a RMB180m ($27.1m) series B+ round for China-based marketing services provider Beijing Zmeng Network Technology (ZMT).
Private equity firm YF Capital led the round, which included venture capital group IDG Capital.
Founded in 2013, ZMT provides mobile marketing services for enterprise customers in the life services, automotive, real estate, education, health, finance and tourism sectors.
The company uses smart hardware to collect offline data it then integrates with online information to help its clients optimise their marketing and services. It intends to focus on growing its offline data capabilities now the series B+ round has closed.
Kinzon and IDG co-led ZMT’s $14.5m series B round in March 2017, with participation from electronics manufacturer Jingsheng Technology.
Fosun and VC firm JD Capital had previously supplied an undisclosed amount of series A funding for the company, which is also known as ZMT Zhongmeng, in 2016.
– Photo courtesy of Beijing Zmeng Network Technology Co, Ltd.