China Deal Monitor: ZhenFund backs Qinglei and more updates

China Deal Monitor: ZhenFund backs Qinglei and more updates

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.