Autonomous delivery vehicle maker Neolix raises nearly $400 million in Series E funding

Chinese autonomous delivery vehicle company Neolix announced on October 20 that it has completed a nearly $400 million Series E funding round. Boyu Capital and a national-level fund jointly led the round. Jiemian, citing people familiar with the investment, identified the latter as China’s National Artificial Intelligence Industry Investment Fund. Other investors included Alibaba’s AEF NextGen Hong Kong fund, Vertex Growth and GAC Capital. Neolix said the proceeds will support the expansion of its global operating and customer-service network, alongside investment in data collection and training for end-to-end autonomous driving models. The company aims to improve vehicle safety and performance while reducing lifetime operating costs. The financing follows a Series D round of more than $600 million last year and brings its cumulative funding above RMB 10 billion. [Jiemian, in Chinese]