Nokia Growth leads Series D round for China's SolarVista Media
Nokia Growth Partners (NGP) has led a Series D round of investment for SolarVista Media, a Chinese outdoor billboard technology and media company. China Ease Management, existing backers Northern Light Venture Capital, Tuspark Ventures and FnH also participated. The investment size was not disclosed.
The new financing will be used to roll out the company's patented Dynamic Color Pixel (DCP) digital billboards, according to a statement.
DCP billboards run on natural light, can change images electronically and do not cause plastic waste when advertising campaigns change, making for an environmentally friendly alternative for advertisers.
"We believe convergence of mobile and outdoor marketing is underway and SolarVista Media is well positioned to capitalize on this trend," said David Tang, a partner of NGP.
This is not the first investment by NGP in advertising technology. It has also backed US-based RetailNext, Verve Mobile, as well as Chinese firms Gridsum, Madhouse and Gan Ji.
SolarVista Media currently serves billboard advertising services across 17 Chinese cities including Shanghai and Beijing.
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