On July 15, Shenzhen-based Magn Media Holding Co., Ltd. (Magn Media) received new financing worth US$15 million from Singaporean company Centurion Investment Management (A journalist revealed the news). In 2007, Magn Media netted its first two round angel investments in a total amount of US$3 million.

According to Yunchuo Chen, Chairman of Magn Media, the company is still in talks with other venture capital investors. Quite a few VC investors invested in Magn Media since its inception and they hope to conduct follow-on investment in the second round. 

Founded in August 2007, Magn Media has operated with its flagship product of ¡°mobile blackboards on the buses¡±. The company has two pieces of blackboards (a total of four facets) installed on the front and back compartments of buses, similar to the frame media in the escalators. Most of this-round proceeds will be used to purchase the ad positions on the buses, sell ad positions, and carry out daily operation. 

Based in Singapore, Centurion is an Asia-focused private equity fund company mainly investing in SME enterprises. Among Centurion¡¯s China-based portfolio companies, ERKE Group and SYNEAR Food Co., Ltd are the most well-known (both are Singapore-listed companies).