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Neolix Technologies, a prominent Chinese manufacturer of autonomous logistics vehicles, has raised over $600 million in its latest funding round to accelerate its international expansion efforts.
The Series D funding was led by a private equity firm from the United Arab Emirates, with participation from several Chinese institutions, including Gaocheng Capital, Trustar Capital, and CDH Investments.
Since its inception in 2018, Neolix has delivered over 10,000 RoboVans—self-driving vehicles designed for urban logistics—in more than 300 cities. These vehicles have collectively traveled more than 50 million kilometers.
The capital will be allocated toward exploring overseas markets, developing a computing power system, and expanding production lines and capacity to meet a projected market demand of 100,000 units next year, according to the company’s CFO.
In July, Neolix entered into a cooperation agreement with the municipal government of Incheon to promote RoboVan deployment in South Korea. Earlier this month, it announced a strategic partnership with a UAE technology firm to facilitate large-scale deployment of RoboVan in the Middle East.
This marks the company’s second fundraising round this year, following a Series C+ financing in February that raised 1 billion yuan (approximately $140.4 million).
Meanwhile, a competitor completed a $100 million funding round led by a major Chinese fintech company, bringing total funding this year to $400 million.
The competitor is also expanding internationally, having established operations in more than 10 countries and regions, including Singapore, Malaysia, Japan, and South Korea, with plans to deploy over 1,000 vehicles abroad by year’s end.
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