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. This is hitherto the largest financing in the bike and pedelec fields.
As a hi-tech company focusing on leading technologies and original designs, TSINOVA commits itself to creating all-new transport means to make mobility more pleasant, transport more efficient and big cities more inhabitable. So far, 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.
The CEO of TSINOVA Tengjiao Chen said, "When I was an auto designer, I found that automobiles are not always suitable for urban environment. They take up a lot of road resources and result in traffic congestion. For this reason, TSINOVA has developed the smart pedelec which is more suitable for urban mobility. It can help consumers reach their destinations easily and efficiently, at the meantime, offer an exercise function. 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. Product lines will be expanded to meet different user demands for transportation. TSINOVA will set up more sales experience outlets worldwide and push forward the solution of urban mobility problems."
TSINOVA's current financing will also speed up the popularization of smart pedelecs, promote the transformation and upgrading of the bike industry and make urban transport more efficient. In some countries, the smart pedelec has become a mainstream product. However, since the technology of torque sensors used to be monopolized by a few enterprises, the price point of smart pedelec was raised as high as RMB20,000, which set a high threshold for consumption. The VeloUP!™ smart drive system developed by TSINOVA with auto technology adopts a modular design , which can reduce production cost and provide better riding 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.
In September 2015, TSINOVA completed the A round of financing, raised RMB40 million. This has since led to TSINOVA's rapid development in technology R&D product manufacturing and market expansion. As a company which reinvents the bike with auto technology, TSINOVA has gathered technical experts from the automobile, IT, new energy and UAV fields to develop the VeloUP! ™ smart drive system , which includes torque sensors as its core and equipped with auto-level chips and top-class lithium battery. This technological breakthrough has been highly praised and encouraged by Li Keqiang, Zhang Gaoli, Liu Yandong, Wan gang and other senior Chinese leaders. Subsequently, TSINOVA has released 4 product models, named TS01/TF01/TP01/TP02, all of which are well received in the market. In collaboration with Harper's Bazaar, TSINOVA has launched a "Fashionable Riding, Speed Up for Love" public welfare event, attracted the participation of 30 stars, including Li Yifeng, He Jiong and Chyi Chin, who called for the public to join the green riding.
TSINOVA took part in CES 2016 held in Las Vegas and have attracted high attention of consumers and dealers from the United States, Germany, Japan and other countries. In addition, TSINOVA has also been invited to provide service vehicles for FE, offering participants with an all-new mobility experience.
TSINOVA is a high-tech company committed to changing traditional modes of mobility through continuous product innovation to make big cities more inhabitable. The TSINOVA Smart Pedelec is equipped with the world-leading VeloUP!™ smart drive system and a vehicle-level chip and control technologies to accurately regulate power output based on an intelligent understanding of road conditions and rider intentions. With a trendy design and powerful features, it makes urban mobility more agile, convenient and enjoyable.