JunHe recently assisted Bibost (Shanghai) Automotive Electronics Co., Ltd. (“Bibost” or the “Company”) with the closing of its series A financing (the “Financing”). The Financing raised an amount of RMB 200 million in which Nio Hefei Industrial Fund and Orient Jiafu were the lead investors and Addor Capital and CWB were co-investors. The Financing was Bibost’s second investment from a tier-one fund, following the series pre-A and series pre-A plus of financing of over RMB 100 million.
As the exclusive legal counsel of Bibost, JunHe assisted the Company in completing series pre-A (in which Sequoia Capital was the lead investor), pre-A plus (in which Sequoia Capital was the lead investor and Shanghai Honghui, Hangzhou Haidi and Atom Ventures were the co-investors) and the current Financing within a year. JunHe also acted as the legal counsel of Orient Jiafu, the investor of the series A financing (obtaining a conflict of interest disclaimer), and provided professional and considerate legal services to the company.
Bibost is a global smart chassis solution provider that has won the titles of “National High-Tech Enterprise” and “National Top 50 Innovative Entrepreneurship”. It has more than 20 years of experience and utilizes expertise from the State Key Laboratory of Automotive Safety and Energy Conservation of Tsinghua University on the research and development of chassis and electronic products. Bibost has advantages in full stack self-research, technological innovation, and iteration and industrialization in relation to smart braking, intelligent steering, domain controller and integrated wire control chassis products. Bibost established the first head OEM One-Box product fixed point and the first One-Box product mass production line.
JunHe advised the Company in communicating with investors in each round effectively. They held negotiations with investors in groups based on communication with the Company and in consideration and understanding of the Company’s business plan. They discussed and solved disputes one by one, which facilitated negotiations between the Company and investors and the execution and completion of the financing transactions. The diligent and efficient work of the JunHe team was highly praised and recognized by the client and other parties.
The lead partners for assisting Bibost were JunHe partners WANG, Yi and HE, Tingcai (Lawrence HO) , and the lead partner for assisting Orient Jiafu, Addor Capital and CWB was JunHe partner HE, Tingcai (Lawrence HO) .