2025.01.15
On January 9, 2025, Bebest (Shanghai) Automotive Electronics Co., Ltd. ("BIBO" or the "Company"), a leading intelligent automotive chassis solution provider, announced the completion of its B round financing from Puhua Capital, Orient Renaissance Capital, Hang Lung Group, Baolong Automotive and others, raising more than RMB 300 million. JunHe provided entire-process legal services for BIBO's Series B financing.
JunHe acted as BIBO’s exclusive legal counsel. Over the past three years, it has assisted the Company in completing its Pre-A round financing (invested by HSG), Pre-A+ round financing (led by HSG, and followed by Honghui Capital, Hangzhou Haidi and Atom Ventures), A round financing (led by NIO Hefei Industrial Fund and Orient Renaissance Capital and followed by Addor Capital and CWB Automotive), and A+ round financing (jointly led by Meridian Capital and Orinno Capital, with additional investments from Fengfan Ventures, Shanghai Science and Technology Venture Capital (Group) Co., Ltd., Baolong Automotive and existing shareholder HSG), as well as this B round financing.
BIBO is a leading supplier of intelligent chassis solutions and has been named a “National Hi-tech Enterprise” and one of the “Top 50 Companies in Innovation and Entrepreneurship”. Its technologies derive from more than 20 years of research and development in automotive electronics at the State Key Laboratory of Automotive Safety and Energy of Tsinghua University. In 2023, BIBO’s Nantong manufacturing center began operations with an annual production capacity of 2 million sets of full-stack intelligent braking products. It was the first company in China to engage in the mass production of full-stack brake-by-wire products and to receive ISO 26262: ASIL D process certification, the highest automotive safety rating. BIBO continues to strengthen the mass production and delivery of intelligent braking and suspension products and has achieved strategic cooperation and project implementation in intelligent steering, leading the integrated development of the XYZ axes of intelligent chassis.
As the legal counsel to BIBO, JunHe participated in several rounds of its financing. JunHe’s team communicated, discussed and coordinated with various investors regarding the transaction arrangements, agreement texts and closing arrangements. They negotiated with the investors and used their in-depth communication and understanding of the Company’s business plan to assist the Company in completing the contract execution and closing. JunHe’s diligent and efficient work was highly praised and recognized by the client and the other parties.
JunHe partners WANG, Yi and HE, Tingcai (Lawrence HO) led the team acting on behalf of BIBO.
