Shanghai-based NASA Automotive Electronics has raised about RMB100 million (US$14.4 million) series B round of financing from Qiming Venture Capital and GP Capital, according to a statement on Qiming’s official WeCaht account.
Founded in 2016, NASN provides complete chassis electronic control products including intelligent brake system named NBooster, brushless electric steering EPS (electric power steering) controller and driven-by-wire system.
The company also extends to intelligent decision-making products in advanced driver assistance system (ADAS) and autonomous driving.
Its Nbooster has been equipped in BAIC Motor’s EC series vehicle and Level 4 self-driving bus Apolon, which is co-developed by Baidu and King Long.
The global auto parts industry will continue to grow, benefiting from the development of ADAS and active safety technologies. The profits of chassis electronic control supplier has increased significantly, according to a report from strategy consulting firm Roland Berger.
“We are firmly optimistic about the future development of new energy and self-driving – two future directions of the automobile industry. We also have confidence in tech companies in the automotive electronics field with core innovative technologies,” said Yin Ming, executive director of Qiming Venture Capital.
NASN’s founding team all come from SAIC and Bosch. Its founder and CEO is former head of electronic control technology in drive-by-wire chassis development at SAIC Motor. He has more than 12 years of experience in development and mass production of drive-by-wire chassis and global team management experience.