BEIJING, Aug. 15, 2016 /PRNewswire/ — On August 15. 2016, TSINOVA completed its B round of financing for RMB150 million. TSINGHUA HOLDINGS led this round of investment.
TSINOVA has released 4 smart pedelecs tailored for urban mobility. These products provide riders with a “manpower + electric assist power” hybrid riding experience. The sales networks in more than 100 cities across China, as well as online stores on JD.COM and TMALL has been established. Meanwhile, TSINOVA is also actively making its layout in the global market.
Tsinova has set up sales channels in South Korea, Singapore, France, Norway as well as other countries. The VeloUP! ™ smart drive system, a core technology developed by TSINOVA, enables the pedelec to automatically sense road conditions, read user’s riding intentions and output power assist in a real time manner. It has reached the highest level in terms of precision measurement, response speed and service life cycle.
In mainstream European markets, the number of smart pedelec is growing at 30% annually. As a Chinese pioneer in this field, TSINOVA’s smart pedelec has been well received in the market after its launch. After the current financing, TSINOVA will increase the fund in the investment in technology innovation, product development and market expansion. TSINOVA will step up the R&D of the VeloUP!™ smart drive system, accumulate more technologies and further enhance its user experience.
In addition to applying this system on its own products, TSINOVA is implementing a VeloUP! ™ partnership program to provide advanced technologies to other well-known bike enterprises and offer comprehensive hardware and software support.
In this way, different types of smart pedelecs will be produced and the smart and green means of mobility could be experienced by an increasing number of customers.