Neolix raises $29m to mass-produce self-driving vehicles

China-based self-driving logistics startup Neolix Technologies has raised approximately RMB200m ($28.64m) in a Series A+ funding round to mass-produce its self-driving vehicles.

The latest round of funding is led by electric vehicle maker and existing investor Lixiang.

New investor ADDOR Capital and existing shareholders Yunqi Partners and Glory Ventures also took part.

The latest round of funding began in the fourth quarter of last year, and was finalised this January before being completed in February.

Beijing-based Neolix manufactures Level 4 autonomous driving vehicles to be used for food delivery, mobile retail, and security applications.

The company has a production facility in Changzhou and aims to sell 100,000 vehicles each year.

Neolix claims it has produced and delivered 225 autonomous driving vehicles in the last two years.

The company has entered into partnerships with several renowned local enterprises such as Baidu, JD.com and Meituan, in addition to local governments. It also officially went abroad last year.

Recently, 18 Neolix autonomous driving vehicles were deployed across Wuhan’s Leishenshan Hospital and other health facilities and community sites in China to help deal with the outbreak of the Covid-19 coronavirus.

Dozens of autonomous driving vehicles are being utilised in cities such as Beijing, Shanghai, Guangzhou and Shenzhen for the purpose of epidemic prevention, disinfection and delivery.

Established in 2018, Neolix began as an autonomous driving vehicle company focused on autonomous vehicle delivery, and now has over 160 employees.

The company raised nearly RMB100m ($14m) in a Series A round led by Yunqi Partners.