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China's White Rhino Bags USD7.9 Million to Expand to 5,000 Autopilot Delivery Vehicles by 2026
Dou Shicong
DATE:  Dec 30 2021
/ SOURCE:  Yicai
China's White Rhino Bags USD7.9 Million to Expand to 5,000 Autopilot Delivery Vehicles by 2026 China's White Rhino Bags USD7.9 Million to Expand to 5,000 Autopilot Delivery Vehicles by 2026

(Yicai Global) Dec. 30 -- Chinese unmanned delivery firm White Rhino has secured CNY50 million (USD7.9 million) via its second fundraiser in the past six months, planning to increase its fleet to 5,000 vehicles in five years.

Shanghai-based Seekdource, Beijing's Chang’an Capital, Shenzhen's CoStone Capital, and Linear Capital, an existing shareholder, participated in the Beijing-based firm's pre-Series A+ round of financing, tech news outlet 36Kr reported today.

The proceeds of the fundraiser will be spent on enlarging the company's services to have 5,000 self-driving delivery vehicles on public roads in more cities by 2026. Moreover, the firm expects to invest in technology research and development, said Chief Executive Zhu Lei.

The logistics company has been increasing its capital quickly. In July, White Rhino gained nearly USD10 million through its pre-Series A round of financing, led by Linear Capital.

Founded in 2019, White Rhino runs delivery pilots in Beijing, Shanghai, Chengdu, and Shenzhen, with a fleet of tens of vehicles. Founder and CEO Zhu used to work in the autonomous driving department of search engine giant Baidu.

White Rhino has been cooperating with Chinese supermarket chain Yonghui Superstores since last fall with 10 autopilot vehicles in Shanghai, serving communities residing from three to five kilometers away from the supermarket, said Zhu.

Moreover, the firm has been collaborating with JD.Com-controlled on-demand service provider Dada Group since July to build an autonomous delivery platform, the CEO added.

Editor: Emmi Laine

 

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Keywords:   White Rhino,Autonomous Delivery