NIO-backed autonomous driving truck developer Inceptio Technology completes B+ round

Beijing (Gasgoo)- On February 28th, China’s commercial vehicle autonomous driving developer, Inceptio Technology, announced the completion of its B+ equity financing round, raising $188 million.

Photo credit: Inceptio Technology

Sequoia Capital China and Legend Capital co-led the round. Other participants include named jeweler, Chow Tai Fook, and Cedarlake Capital. Existing shareholders of the company, Meituan, NIO Capital, Eight Roads, and Broad Vision Funds, also invested in this round.

As of now, Inceptio Technology has raised $500 million so far.

The funds will help Inceptio Technology expand the investment in its “XUANYUAN” truck autonomous driving system, introduce more production-ready models with partners, and step up in the electrification field.  

Founded in April 2018, Inceptio Technology focus its business on the trunkline logistics field. The company adopts a “technology+ operation” dual-way business model to develop and produce its L3 and L4 autonomous driving technologies and then apply them in real-life applications. The company is able to provide a safe and efficient autonomous driving truck fleet and freight service network with the help of its automaking partners.

By the end of 2021, Inceptio Technology has realized the mass production of its L3 autonomous driving trucks. The company’s trucks have started normalized commercial operations on multiple routes with various shippers.