(hereinafter referred to as "TOSUN") completed a new round of financing of tens of millions of RMB. This round of financing was led by Fengnian Capital and followed by our old shareholder Atomic Ventures. This round of financing will be mainly used for new product development and business expansion.
Pan Teng, Partner of Fengnian Capital, saidIn the current era of "software-defined cars", domestic vehicle, system, hardware and software and chip manufacturers are emerging strongly to achieve domestic breakthroughs. However, the underlying industrial software supporting the development of automotive electronics has been monopolized by foreign giants. In the context of the industry facing a proliferation of R&D projects, shorter cycles and accelerated iteration frequency, foreign products are gradually exposed to many problems such as expensive, late response and slow updates, which cannot meet the urgent needs of practitioners for rapid improvement of development efficiency. Based on years of technology accumulation, TOSUN has the strength to compete with foreign giants in the international market.
As a leading enterprise in the segment of domestic bus tool chain, TOSUN is driving the technology to rapidly realize localization substitution, with excellent team, leading development and outstanding advantages. In the future, Fengnian Capital will continue to support the development of the enterprise, deepen industrial cooperation, grow together with the enterprise and be a fellow traveler.
Atomic Ventures said to XiaohanWithin one year of the angel round investment, the penetration rate of TOSUN's products in the vertical track of domestic and foreign vehicle manufacturers and parts manufacturers has increased significantly, and the market share has become the first in China. Meanwhile, the horizontal expansion in semiconductor, engineering machinery, aviation, military and other fields, as well as the layout of overseas markets, all show the team's confidence, determination and ability to commercialize domestic industrial software from top to bottom. We firmly believe in the future of Tongxing, which will acquire one industry benchmark customer after another, serve China and go global, and grow into a leading Chinese industrial software brand with international reputation.
Founded in 2017, TOSUN has been focusing on the research and development of domestic autonomous and controllable automotive bus tool chain since its establishment.
The company launched TSMaster software and supporting hardware equipment, with embedded code generation, automotive bus analysis, simulation, diagnosis, testing, calibration and other core functions, covering the whole process of automotive vehicle and component development, testing, production, testing, after-sales. There are more than 3,000 users worldwide, covering automotive OEMs, component suppliers, chip manufacturers, equipment/service providers, engineering machinery, aerospace, naval and military industries, etc.
TOSUN is headquartered in the National Science and Technology Park of Tongji University in Jiading District, Shanghai, with additional branches in Guangzhou, Beijing, Changchun, Chengdu, Taipei and Stuttgart.