Radar solution developer Beijing Qinglei Technology Co., Ltd has raised ‘millions of US dollars’ in an angel round from ZhenFund and early-stage investment firm Ceyuan Ventures, per a company filing.
The proceeds will be used to facilitate radar solution innovation and commercialization.
With founding members from Tsinghua University, Qinglei is active in novel millimeter-wave radar solutions such as big data service and intelligent algorithms.
“We believe the demands on millimeter-wave radar will dramatically surge in the coming years,” said Zhaoyu Zheng, a partner at ZhenFund, in the statement.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 23-24, 2020.
