IngDan, China’s largest IoT supply chain platform, today announced the opening of its first U.S. IngDan Experience Center in the heart of Silicon Valley, increasing its number of global centers to six. IngDan also enters into partnership with Tsing Capital and SVC Angel Fund to expand financial services and resources to IoT hardware innovators and startups.
As part of IngDan’s $35 million commitment to the region, IngDan’s Silicon Valley Experience Center is a place where the public can touch, interact with and enjoy innovative IoT consumer products and interconnected tech gadgets for free — from new robotics and innovative wearables to the latest smart toys. The center will also serve as a community hub for innovators and entrepreneurs to promote products and host workshops, events and forums.
IngDan’s partnership with Tsing Capital and SVC Angel Fund bolsters each company’s ability to more fully support their portfolio companies and community of entrepreneurs. IngDan can now capitalize on both funds to help entrepreneurs seeking capital infusion at various stages of growth. Tsing Capital and SVC Angel Fund in turn can leverage IngDan’s extensive supply chain and access to local resources and to the Chinese market to help accelerate their portfolio companies’ expansion.
Additional benefits include:
- Increased access to U.S. and China investors and industry connections
- Customized funding models for IoT and smart technology startups
- Mentorship from global business, academic and financial leaders with domain expertise
“IoT is the next industrial revolution, poised to usher in a new golden age of innovation and economic progress” said Dr. Shipeng Li, CTO of IngDan and Cogobuy Group, IngDan’s parent company. “Innovators and investors in the U.S. and China are paving IoT’s early pathways to success. IngDan is committed to empowering IoT hardware innovators by connecting them to world-class investors, supply chain partners and marketing partners. And our experience centers enable the public to interact with the technologies of tomorrow, today, for free.”
According to analysts, U.S. investments in IoT are expected to grow from $230 billion today to $370 billion in 2018. By 2025, total global IoT revenue from sales and services is expected to skyrocket to $3 trillion, with the U.S. and China neck-and-neck for market dominance. (source: IDC, MachinaResearch)
“This is a win-win relationship for Tsing Capital, IngDan, and most importantly for IoT innovators who are looking for funding and supply chain support,” said Don Ye, founding managing partner, Tsing Capital. “With IngDan, we’re excited to offer our portfolio companies a vastly expanded value proposition to help transform an early-stage IoT startup with a product idea and a vision into a formidable international player with an efficient and reliable supply chain reaching customers from around the globe.”
According to Roy Kong, managing partner, SVC Angel Fund, “Venture capital in Silicon Valley has a profound impact on the pace of innovation around the world. SVC Angel Fund’s legacy of investing in early-stage, intelligent technology startups in Silicon Valley has helped bring $10 million dollars to the region and helped 300 companies, with a plan to invest $150 million in new smart tech funds. Partnering with IngDan, we can give our portfolio clients access to world-class technical domain expertise that they need to succeed — from ideation to production and access to global markets.”
Founded in 2013, IngDan is the one-stop IoT innovation platform and subsidiary of Cogobuy Group, a Hong Kong-listed company operating China’s largest hardware supplier platform. It empowers entrepreneurs to outsource to the right suppliers at the right time, giving them the same advantage and potential success previously enjoyed only by well-funded companies. Leveraging over 6,000 suppliers, IngDan enables entrepreneurs to capitalize world-class hardware manufacturers at an affordable cost. IngDan’s millions of followers also provide entrepreneurs an unprecedented critical mass and platform for consumer testing and feedback, accelerating brand recognition and product adoption among Chinese consumers. IngDan has U.S. offices in San Francisco and Santa Clara and a growing number of U.S. clients. en.ingdan.com
About Tsing Capital
Established in 2001, Tsing Capital is the leading CleanTech venture capital firm in China. Through its China Environment Fund series, Tsing Capital works intimately with its portfolio companies across China in areas of new energy, energy efficiency, environmental protection, cleaner production, sustainable transportation, new materials and sustainable agriculture. www.tsingcapital.com
About SVC Angel Fund
SVC Angel Fund, founded and managed by a group of accredited investors and industry professionals, invests in U.S. early-stage startups. Its team is committed to utilizing domain expertise to help entrepreneurs respond swiftly to challenges and opportunities in areas such new technology areas including Intelligent Systems, Artificial Intelligence, Computer Vision, Big Data, Smart Manufacturing, Robotics, Sensing Technology, Control Technology, Low Power Devices, etc. www.svcangel.com
Source: Market Wired