Joynext, the smart-vehicle-solutions arm of the Chinese automotive component supplier Ningbo Joyson Electronics, has secured about 720 million yuan ($107 million) in a new funding round.
Leading the investment were a private equity fund manager co-launched by the Chinese state-owned investment firm SDIC and Shenzhen-based China Merchants Capital Investment (CMC). Also participating were Ningbo Gaofa Automotive, a developer of automotive control systems; the Shanghai-based IT and high-tech investor F&G Venture; Cathay Capital's 1.5 billion yuan CarTech Fund; and other investors.
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