BIBO, a provider of chassis solutions, has secured financing worth $29 million, with participation from NIO Capital.

On April 10th, BIBO, a Chinese provider of intelligent chassis solutions, announced the completion of its Round A financing. The funding amounting to 200 million yuan ($29 million) was led by NIO Capital and Orient Jiafu Asset Management Company Limited, with CWB Automotive Electronics Co., Ltd and Addor Capital participating in the round as followers.

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BIBO has over two decades of experience in researching and developing electronic products for chassis, with expertise gained from the State Key Laboratory of Automotive Safety and Energy at Tsinghua University. The company specializes in a range of products, including intelligent braking, steering, domain control, and integrated line control chassis products.

BIBO operates two research and development centers in Beijing and Shanghai, and a production base in Nantong, Jiangsu Province. Its core R&D team comprises about 70% of the total staff, including professionals from top domestic and global enterprises such as Bosch, SAIC, BYD, and renowned universities like Tsinghua University, Jilin University, and Wuhan University of Technology.

The company’s products were first delivered in large quantities in late 2022 and are expected to achieve full-scale mass production by mid-2023. Following this financing round, the company plans to increase investment in two digital production lines to ensure high-quality delivery of customer orders.

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