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Touchmedia has raised around $14.2 million (over $100 mm RMB) in Series B funding.  Touchmedia is a new media company specializing in interactive touchscreen advertising and the marketing, planning and data services supporting it. Interactive touchscreens are the most effective advertising tool today, because they not only reach out to consumers, but involve them in the ways they find most appealing.  Touchmedia will use the funding to expand into a number of cities across China over the next 12 months. Currently they have agreements for more than 80,000 taxis in 20 plus cities, though Mr. Fung advised they would not install in all cities and taxis in the next year. “Consumers’ acceptance is superb. They really like the system and choice it gives them. They understand that it is the only truly interactive outdoor media and they can control it. Independent research shows that 89 % accept and like the touch screens.”