Tsinova, a Beijing, China-based smart pedelec company, completed its RMB150m Series B financing.
The round was led by Tsinghua Holdings.
The company intends to use the funds to accelerate its expansion.
Led by CEO Tengjiao Chen, Tsinova provides a smart pedelec equipped with a 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.
So far, the company has released 4 smart pedelecs tailored for urban mobility with sales networks in more than 100 cities across China, as well as online stores on JD.COM and TMALL has been established.
Tsinova has set up sales channels in South Korea, Singapore, France, Norway as well as other countries.