Indoor Map Service Palmap+ Secured 12 Million Yuan Of Series B Financing


Indoor Map Service Palmap+ reportedly received 12 million yuan ($1.95 million) of Series B Financing from TusPark Ventures (report in Chinese).

Founded in 2010, the company is principally engaged in providing indoor map data, covering shopping and entertainment centers, restaurants, hospitals and schools. The company has collected the indoor map data of more than 12,000 buildings, such as shopping mall, supermarket, subway, train stations, in more than 300 cities countrywide. Palmap+ now provides data service to Internet companies, such as Baidu Map, Sina, Souhu and Tencent, as well as mobile app startups.

Palmap+’s revenue mainly comes from apps or companies who gained access to the company’s API. In addition, the company also shares commissions with merchants that post ads on their platform. Similar domestic companies are Indoor Map, data provider of AutoNavi Map, Jimi, and RTMap.