Neolix Technologies, a China-based autonomous van developer backed by electric vehicle manufacturer CHJ Automotive, has received RMB100m ($14.5m) in series A funding, China Money Network has reported.
Venture capital firms Yunqi Capital and Glory Ventures both contributed to the series A funding. The company had previously secured an undisclosed amount of angel funding from CHJ Automotive and Oriza Yuandian Venture Capital, a subsidiary of Oriza Holding, in April 2018.
Founded in 2009, Neolix Technologies is developing a fleet of self-driving vehicles designed to deliver products and packages as part of the logistics industry. The vehicles are equipped with artificial intelligence technology and modular intelligent cargo compartments.
Neolix already counts e-commerce firm JD.com and telecommunications equipment provider Huawei among its customer base, according to Bloomberg, and it plans to roll out a thousand vehicles in the first year.
In addition to expanding its research and development team, capital from the funding will be used to fund the mass production of Neolix’s self-driving vehicles.
Image courtesy of Neolix Technologies Co., Ltd.