Lingtu Receives US$30M Funding

location based services

Chinese digital mapping and location-based services (LBS) company Lingtu announced on Monday that it has received US$30 million in funding Gobi Partners, Oak Investment Partners, Miven Venture Partners, AllianceBernstein, Georgian Pine Investments and bScope Partners. The funding will be used to develop Lingtu's mapping, software, marketing, sales and R&D teams. Lingtu was founded in 1999 and has more than 640 employees. Lingtu's technologies and services include navigation software SmartGuider, online map portal 51ditu.com, 3D-GIS software solution VR Map, and China Unicom's GPS tracking service Map Star. Lingtu CEO Tang Ningzhe said that the company currently produces maps for 337 Chinese cities and is working on maps of the Chinese countryside.