China-based mobile marketing technology producer ZMT Zhongmeng has raised hundreds of millions of renminbi (RMB100m = $14.5m) in a series B round, China Money Network reported on Thursday.
The round was co-led by Fosun Kinzon Capital and IDG Capital, respective investment vehicles for conglomerate Fosun and media company International Data Group, and electronics manufacturer Jingsheng Technology reportedly also took part.
Established in 2015, ZMT Zhongmeng uses big data to offer mobile marketing services for areas such as the automotive, education, healthcare, financial, tourism and real estate industries. The company particularly targets small and mediium-ssized enterprises as clients.
The funding will go towards technology and product development as the company aims to improve its big data services offering.
Fosun and venture capital firm JD Capital had previously provided an undisclosed amount in series A capital for ZMT Zhongmeng in 2016.