China intelligent chassis supplier raises $58m

Several other unnamed investors also contributed capital, while existing investor Xinding Capital re-upped.

Founded in 2016 and also known as Ge Lu Bo, the company received a Series A in 2018 from SBCVC, Fujian Zhongtong Huiyin Investment, and Orca Capital. This was followed by a Series B of CNY 40m later the same year from Fortune Capital.

Xinding arrived in early 2022, leading a Series B extension of CNY 200m. It was joined by Baidu Ventures among others. A pre-Series C - featuring Zhejiang Kunxin Investment Management, Hygoal Capital, China Capital Management, and Xinding - closed a few months later, according to AVCJ Research.

Global Technology produces smart actuators and other components used in intelligent chassis. It claims a manufacturing capacity of more than 1m units per year across key product categories. It expects to surpass 2m within three years.

Intelligent chassis are integral to autonomous driving and advanced driver-assistance system (ADAS). If a driver fails to notice an obstacle, the car’s sensors and computer intervene and a smart actuator is instructed to apply the brake. All of China’s top EV manufacturers rely on ADAS and intelligent chassis.

A smart actuator also enables energy recycling. The kinetic energy generated when a car applies the brakes is typically converted into heat and dissipated into the air. A smart actuator can convert this energy into electricity, increasing a vehicle’s range.

Global Technology has developed a highly integrated one-box solution that differed from the two-box split-set design offered by most of its peers to date. In this respect, it is similar to Bibo, another intelligent chassis player, which recently closed a CNY 200m Series A.

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• Topics
• Greater China
• Technology
• Industrials
• Expansion
• China
• manufacturing
• CICC
• automobiles
• autonomous driving