Global Technology closes first financing round for year of 2024

Shanghai (Gasgoo)- Following the completion of the Series C financing in April 2023, Chinese brake-by-wire system provider Global Technology has successfully closed its first funding round in the year of 2024, according to a post on the company's WeChat account.

Led by Chongqing Yufu Fund, with additional participation from Xuhui Capital, Shijia Wenhua, and other investors, the fresh round aims to accelerate the domestication process of the company's core systems of chassis-by-wire technologies.  

Global Technology said it has garnered significant investments from prominent institutions and industrial capital in recent years, reflecting the capital market's recognition of the company's multifaceted capabilities, including team strength, technological R&D, product deployment, and commercialization. In 2023 alone, Global Technology raised a total of over 400 million yuan.

Global Technology's ESC system; photo credit: Global Technology

The company continues to expand its production capacity to meet the growing order demand. In 2023, it introduced six fully automated production lines, which all have been put into operation. In 2024, mass production of products like ESC (electronic stability control system) and GIBC (onebox) integrated brake control system is ongoing.

With a focus on chassis-by-wire core technology (comprising intelligent chassis domain controller and smart actuator), Global Technology is accelerating the development of a three-axis integrated intelligent chassis technology route. This strategy concentrates on brake-by-wire dynamics for longitudinal control, steer-by-wire for lateral control, and suspension-by-wire for vertical control.