GUANGZHOU, China, April 12, 2018 /PRNewswire/ -- On 11th April, 2018, a signing ceremony was held in Guangzhou Development District to mark the 60 million yuan equity investment by Science City (Guangzhou) Investment Group Company Ltd ('Science City Group') into BlueFocus IFEC (Beijing) Technology Co., Ltd. It was the series A round of funding for BlueFocus IFEC, with an estimated market value of more than 500 million yuan after this investment.
Signing ceremony
BlueFocus IFEC, a strategic investment project by BlueFocus Group - a renowned communication and marketing brand in China - is one of China's earliest forerunners in the inflight internet industry. With improving inflight passengers' experience and optimizing airline services as its mission, BlueFocus IFEC has successfully developed its own intellectual property, a management & operation platform called BAO (BlueAir Operation) and a one-stop scene marketing solution for all civil aviation called BAM (BlueAir Marketing), to elevate the value of scene marketing for civil aviation by integrating branding with performance. At present, BlueFocus IFEC has established collaboration across the board with China Eastern Airlines, Air China, China Southern Airlines, Xiamen Airlines and Hainan Airlines. Meanwhile, extensive cooperation has also been established with upstream and downstream manufacturers in the inflight internet industry, both domestic and international.
Guangzhou Development District (GDD) is the main hub for developing IAB industries, namely, next-generation information technology, artificial intelligence and biological medicine. Last year, a number of favorable policies were put forward by the local government to attract global talents, technology and capital. BlueFocus IFEC officially signed to settle its global headquarter in GDD on October 2017. It plans to establish a 10 billion Belt and Road Inflight Internet Industry Fund and China's first innovation center for inflight internet entrepreneurs, aimed at promoting the development of the IAB industry in the GDD and winning a competitive edge in the global inflight internet market.
It is the leading position that BlueFocus IFEC holds in China's inflight internet industry, buttressed with major airlines' recent moves to give the green light to inflight internet services, that made Science City Group to invest. Following the investment, Science City Group will continue to support BlueFocus IFEC in business development, resource integration and the building and operation of the innovation center for inflight internet entrepreneurs.
View original content with multimedia:http://www.prnewswire.com/news-releases/bluefocus-ifec-completed-series-a-round-with-60-million-investment-from-science-city-group-300628889.html
