Zhejiang Dibay Intelligent Control Technology Co., Ltd. announced that it will raise CNY 100 million in an equity round of funding on April 11, 2023. The transaction will include participation from returning investor, ZHEJIANG DIBAY ELECTRIC CO.,Ltd. The transaction is expected to close no later than December 31, 2023. The registered capital of the company will now increase from CNY 220 million to CNY 320 million.

The transaction has been approved by the investor's board of the company in the fourth meeting of the company's fifth board of directors.