Shanghai-based BIBO Secures Over 300 Million Yuan in Series B Funding
Shanghai (Gasgoo)- On January 9, 2025, Bebest (Shanghai) Automotive Electronics Co., Ltd. (BIBO) announced the successful completion of its Series B funding round, raising over 300 million yuan for the company.
Photo credit: BIBO
The Series B funding was led by Puhua Capital, Orient Renaissance Capital, Hang Lung Group, and Baolong Automotive. With this financial boost, BIBO has made significant progress in the mass production and delivery of its intelligent braking and suspension products. The company has also solidified various strategic partnerships and projects focused on intelligent steering.
A notable highlight of this funding round is the addition of Hang Lung Group as a new strategic investor. Hang Lung Group has already collaborated with BIBO on developing intelligent rear-wheel-steering and steer-by-wire systems, which have undergone successful testing with nearly ten clients. Additionally, Baolong Automotive, an existing shareholder, continued to invest in this round. The collaborative effort between Baolong Automotive and BIBO on the intelligent suspension air supply system has entered mass production and received substantial order volumes within a short period.
Currently, BIBO has successfully achieved mass production of its full range of intelligent braking and suspension products. The intelligent rear-wheel-steering system, steer-by-wire system, and electronic mechanical braking system are in the final testing stage before entering full-scale production in 2026.
BIBO boasts a comprehensive product portfolio that includes intelligent braking, steering, suspension systems, and domain controllers.
BIBO’s flagship product, the BIBO Integrated Brake Control System (BIBC/One-Box), witnessed significant shipments in 2024, with deliveries projected to exceed 300,000 sets in 2025. To date, BIBO has delivered over 500,000 sets of intelligent braking products, with monthly deliveries surpassing 40,000 sets.
