(Yicai) Oct. 24 -- Neolix Technologies, a leading Chinese maker of unmanned logistics vehicles, has secured more than USD600 million in its latest financing round to accelerate its overseas expansion.

The Series D fundraiser was led by Stone Venture, a private equity firm from the United Arab Emirates, Neolix announced yesterday. Chinese institutions, including Gaocheng Capital, Trustar Capital, and CDH Investments, also took part.

Founded in 2018, Neolix has delivered more than 10,000 RoboVans, self-driving vehicles for urban logistics scenarios, in more than 300 cities. Its robovans have run for over 50 million kilometers.

The proceeds will be used to explore overseas markets, build a computing power system, and expand the company's production lines and capacity to meet growing market demand, which may reach 100,000 units next year, Neolix's Chief Financial Officer Li Ziyi told Yicai.

Neolix signed a cooperation agreement with the municipal government of Incheon in July to promote the use of RoboVan in South Korea. Earlier this month, it reached a strategic partnership with UAE technology company K2 to jointly promote the large-scale deployment of RoboVan in the Middle East.

This was the Beijing-based company's second fundraiser this year after securing CNY1 billion (USD140.4 million) in a Series C+ round in February.

Neolix's rival Zelostech completed a USD100 million fundraiser led by Chinese fintech giant Ant Group this month, bringing the total of this year’s financing to USD400 million.

Zelostech is also exploring overseas markets. The Suzhou-based firm has already entered more than 10 countries and regions, including Singapore, Malaysia, Japan, and South Korea, and is expected to deploy more than 1,000 vehicles abroad by the end of this year.

Editors: Dou Shicong, Futura Costaglione