​Autonomous truck developer Trunk.Tech bags hundreds of millions of yuan investment

Beijing (Gasgoo)- China’s commercial vehicle autonomous solution developer, Trunk.Tech announced today that it has raised hundreds of millions of yuan in the latest round of financing.

Photo credit: Trunk.Tech

According to Trunk.Tech, the investment was co-led by Yuexiu Industrial Fund, ZWC Partners, and BHCP. The fundings will be put towards R&D and mass-production of the company’s new-generation autonomous driving trucks. The company aims to further its trunkline logistic autonomous driving operation applications and expand its intelligent port market share.

Founded in 2017, Trunk.Tech is dedicated to developing L4 autonomous driving technology for commercial vehicles and exploring real-life applications. The company strives to provide a safer, more efficient, and affordable autonomous driving solution and transportation service under port logistics and highway trunkline scenarios.

Currently, based on the company’s self-develop L4 autonomous driving software/hardware integrated system, the Trunk Master, Trunk.Tech has introduced multiple mass-produced automated trucks, leading the industry in respect of commercialization.

The company has delivered hundreds of said trucks to various intelligent logistic hubs in China and normalized “no safety driver” operations.

Photo credit: Trunk.Tech

In July this year, the company was granted the first batch of commercial vehicle autonomous driving test licenses in Beijing, becoming an early bird for open highway trial operations.

In addition, Trunk.Tech has formed a trunkline logistics autonomous truck fleet consisting of tens of vehicles. It has also partnered with major freight service carriers, including the logistics arm of JD.com, Deppon Express, and STO Express, accumulating over 1.2 million km of transportation mileage.