Shanghai (ZXZC)- Chinese chassis-by-wire tech developer Shanghai Trugo Technology Co. Ltd. (“Trugo Tech”) today announced via its WeChat account it has completed its Series A and A+ financing rounds with over 100 million yuan ($14.547 million) raised in total.

The two fresh rounds drew strategic investments from Zhengxuan Investment and Xiaomi Group’s strategic investment arm, and also attracted investors like C&D Inc., UOB Venture Management, etc.

Photo credit: Trugo Tech

Proceeds from the new rounds will be mainly used for the expansion of the fully automatic production lines for ESC (electronic stability control) systems, the industrialization of EHBI (integrated-electro-hydraulic brake) systems, and the R&D of EMB (electro-mechanical brake) products.

Trugo Tech is dedicated to providing the Chinese automotive market with a complete set of core chassis-by-wire technologies and relevant solutions. Its main products include ESC, EHB, and EPB (electronic parking brake) systems.

The company is headquartered in Jiading district, Shanghai city, and has set up an intelligent chassis-by-wire manufacturing factory in Changshu city, Jiangsu province. Its team has already had over 100 members, over 75% of which are working on R&D businesses.