Shanghai, China - AdChina, a Shanghai-based online ad network, announced this week that it has raised $10 million in first round funding, led by Mayfield China.

Founded in April 2007, the company has served brand advertising into verticals including women, teens, autos, finance and consumer electronics, and counts clients including Unilever, L'Oreal and Adidas.

AdChina noted that brand-focused advertising accounted for over 50% of the $1.37 billion market in China, according to iResearch.

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