Auto tech provider INGEEK raises $41M in funding

INGEEK, a leading Chinese provider of intelligent automotive technologies, announced on Wednesday that it has raised nearly 300 million yuan ($41 million) in a series C round of fundraising.

Led by Jinhua Ketai Fund and Continental AG, the new financing will be used to beef up research and development in intelligent automotive technologies, supply chain enhancement, and strategic global deployment.

Stevan Shan, CEO of INGEEK, said:“The new financing demonstrated the recognition of a leading global company in the automotive industry for the role played by the Chinese team in the evolution of intelligent automotive technologies.”

“The company will bring cost-effective, innovative products and services to original equipment manufacturers and consumers around the world, while also supporting Chinese OEMs with overseas product strategies to jointly build an open, collaborative, and efficient automotive intelligent ecosystem,”Shan said.

INGEEK, which first pioneered the concept of digital key for vehicles, mainly helps to connect between automobiles, smart terminals, and mobility scenarios to deliver better mobility experiences.