Shanghai-based ad net AdChina has secured a $10 million first round funding led by Mayfield China. The year-old company also has received unspecified angel funding from Jack Xu, a VP at Cisco (NSDQ: CSCO) and eBay's (NSDQ: EBAY) former VP of engineering. Chinese ad firms of all sizes are gearing up for the Beijing Summer Olympics, which is expected to generate roughly $1.5 billion in ad revenue (earlier this year, Lehman Brothers internet analyst Doug Anmuth forecast about $70 million of those revenues going to online). Release

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