TechValley, a smart mobility solution provider committed to big data technology and application service, has raised tens of millions of yuan in early 2018. The financing round was jointly backed by a CRRC fund and a Green Pine Capital branch.
The financial backing from the national strategic investors comes with closer cooperation between the Xiamen-based company and national railway transportation systems, and the cooperation will facilitate the development of a big data center that can ultimately help to improve rail transportation while enhancing corporate profits and passenger safety.
Tech Valley has successfully developed its big data solution on a large scale since 2015. Supported by major domestic air and rail operators, it has practically broken the stronghold that foreign companies have over transportation technology.
The company is expecting revenues in excess of RMB 60 million in 2018 and RMB 100 million in 2019.
Tech Valley’s innovative product, "Transportation Mind", uses a massive amount of data to automatically generate multiple high-accuracy markers and intelligent prediction modeling. By imitating human thinking and duplicating learning, it produces optimized and seamless connection of transportation services. The solution has been successfully applied in big data analyses of airline and railway passengers to help deliver personalized services across omnichannels, predictive user experience and precise marketing. Other segments like security defense, monitoring and alerts as well as the Internet of Things are also covered.
Tech Valley’s service covers a significant proportion of China’s air and rail passengers – the airlines it serves handle than half of all air passengers in China; the airports that use its passenger data have tens of millions of passenger throughput every year, and the railway systems using its passenger big data serve over 2.8 billion passengers annually.