TsingCar, a leading UWB Technology Provider, announced the completion of its A-round financing of tens of millions of CNY. This fund will be used in R&D of new-generation products and team expansion.
On Oct 27, the industry leading UWB technology provider TsingCar (Beijing) Technology Co.,Ltd (hereinafter referred to as TsingCar) (Chinese: 清研智行), announced the completion of its A-round financing of tens of millions of CNY led by TusStar (Chinese: 启迪之星). This investment will be primarily used in R&D of next-generation products and team expansion for the company.
Ultra-wideband (UWB) refers to a radio-based communication technology for short-range use and fast and stable data transmission. TsingCar, founded in 2020, positions itself as a first-tier supplier for automotive electric spare parts and focuses on three key business pillars, which are UWB digital keys, UWB cockpit radar, and UWB parking navigation.
Ruixiang Zhao, founder of TsingCar, stated that digital keys bridge the gap between smartphone ecosystem and vehicle ecosystem, since the trend of replacing real keys with digital ones is inevitable. As one of the 15 members in a global UWB standard organization FIRA with voting rights, TsingCar has rich technical reserve and experience in UWB product R&D.
Meanwhile, the team size of TsingCar has reached almost 100, with R&D personnel accounting for over 50%. With a strict reference to current tier-1 companies' team structure, the team also consists of talents from assurance, system configuration, project management and supply chain management besides R&D to meet the industry standards for product quality.
Through continuous iterative development, TsingCar plans to launch its second generation of products with higher performance and lower costs in 2023.