Chinese autonomous-driving truck developer Inceptio Technology raised $270 million in a series B equity funding round led by JD Logistics, Meituan and PAG. Eight Roads, Deppon Express, IDG Capital, CMB International, SDIC, Mirae Asset, and Broad Vision Funds also participated in the investment.
With the funding, Inceptio Technology plans to accelerate the development of its self-developed full-stack autonomous driving system “Xuanyuan”, and speed up its deployment in electrification.
Since 2019, the startup and many Chinese OEMs have jointly developed a line of mass-produced autonomous driving, heavy-duty trucks. The autonomous driving freight network built by Inceptio Technology has been used by a number of top tier shippers and fleets in China.
Eight Roads has been focusing on investment opportunities in the Autonomous vehicles (AV) sector. Our China Ventures team also invested in Pony.ai, the leader of Chinese autonomous vehicle market, and high performance LiDAR technology developer Innovusion, as well as EQ, an autonomous driving technology developer that specializes in trucks for the mining industry in China.