Baidu Backs Chinese Wifi Provider Exands

Baidu Inc. has participated in a series B round of financing in Exands, a business-to-business wifi service provider in China, according to a company announcement.

The round is led by Hangzhou Evershine Capital, with participation from existing investor Chinese venture firm ZEVC Managment Ltd.

The value of the round is not disclosed.

Exands uses SMS authentication to allow users access wifi and has served brands including Starbucks Coffee, Wanda Commercial Properties, Heng Long Properties, Bank of Communications, and popular Chinese restaurant chain HaiDiLao Hot Pot.

Over one-fifth of the Chinese population uses the company’s wifi service via Exands’ network, the company claims.

Launched in 2010, Exands says it will use the proceeds to speed up its expansion and to set up strategic alliances with overseas partners.

 

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