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This article was published on April 30, 2012

HTC-backed DDMap raises $40m to roll out local info, search and deals platform across China

HTC-backed DDMap raises $40m to roll out local info, search and deals platform across China Image by: lily - Fotolia
Robin Wauters
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Robin Wauters

Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

China’s ‘life service’ provider DDMap has raised $40 million in new funding according to reports in Chinese tech media (via Tech In Asia).

The financing round has been in the works for some time, but has now been completed, according to CEO Xu Longjiang. The significant capital injection comes from US-based CID Capital and F&H Fund Management.

Founded in 2005, the Shanghai-based company had earlier been backed by smartphone maker HTC, Morningside Group and KTB Ventures.

HTC has invested $8 million in DDMap to date, contributing $5 million to a $9 million round in 2010 and later pumping another $3 million into the company.

DDMap offers Chinese urbanites an extensive mix of local services on the Web and mobile phones, including news, business listings, mobile search, couponing, travel information, place check-ins and whatnot, currently in 40 cities and counting.

The company will use the new funding to double down on its smartphone apps.