- Startup raises over 700 million yuan in Series B+ round led by state fund
- EMB rollout expected as industry nears commercialization turning point
Chinese smart chassis startup BIBO (比博斯特) has raised more than 700 million yuan ($102 million) in a Series B+ financing round, as investors back companies building next-generation vehicle control systems amid intensifying competition.
The April 29 financing was led by Zhejiang’s new energy vehicle industry fund, with participation from Beijing-based Shunchuang Investment and a Hangzhou state-run fund.
The latest follow-on round brings BIBO’s total Series B funding amount to over 1 billion yuan, with the proceeds set to scale existing products and support new development.
Founded in 2021 and headquartered in Hangzhou, the company counts Nio among its shareholders alongside major chassis suppliers such as Henglong and Baolong. Former ZF executives Wu Ziping and Yu Weilu joined as senior vice presidents in 2025.
BIBO’s products span braking, suspension, steering and domain controllers, with mass deliveries focused on electronic stability control systems, One-Box brake-by-wire systems and intelligent air suspension supply systems.
In 2025, the company’s revenue doubled, with customers including Geely, GAC, Volkswagen Anhui, Faw-volkswagen, SAIC-Volkswagen, BYD, Chery, Dongfeng, Dongfeng Nissan, BAIC, Changan and SAIC-GM-Wuling, as well as overseas clients, founder and chief executive Liu Xiaohui said.
Liu, who holds a doctorate in automotive engineering from Tsinghua University, said the company broke into the supply chains of joint-venture automakers in 2026, becoming a Volkswagen supplier with mass production expected in the fourth quarter.
BIBO is targeting 1 billion yuan in revenue and profitability by 2027, while pursuing overseas expansion with European automakers.
The company plans to step up investment in electro-mechanical braking (EMB), as easing regulations and new model launches position 2026 as a key year for commercialization.
“I think there are no short-term products in the braking industry, and scaling always takes time,” Liu said, noting that One-Box systems took about a decade to gain traction.
“The market’s understanding of EMB products is still not deep. the perceived value is more about how braking can better integrate and interact with other systems.”
Among roughly 40 smart chassis startups in China, BIBO is one of the few with stable mass production across braking, suspension and steering. Liu said the company is focusing on system-level cost reductions through integration.
“The real opportunity is to rethink the chassis as an integrated system—sharing components, streamlining electronics and building unified software architectures,” he said. “Only companies with end-to-end chassis capabilities can unlock meaningful cost reductions at scale.”
