Tsinghua University's investment affiliate has led a series B round for the bicycle maker.
Tsinova, a China-based bicycle maker, has raised RMB150m ($22.6m) in its series B round led by Tsinghua Holdings, a venture investment unit for the local university.
Tsinova provides a bicycle with a drive system and a vehicle-level chip and control technologies to regulate power output based on an understanding of road conditions and rider intentions.
The company previously raised RMB40m from undisclosed investors in September 2015.
Separately, in March 2015, Banyan Capital, China Growth Capital and IDG Capital Partners invested $15m in a series A round in Beijing-based bike startup 700Bike.
