(Yicai) March 2 -- KargoBot, a Chinese autonomous driving freight startup once owned and now backed by ride-hailing giant Didi Chuxing, has secured more than USD100 million in its latest funding round to fast track the expansion of its self-driving truck fleet.

The Series B round was co-led by Chinese artificial intelligence chip unicorn Horizon Robotics and Beijing-based venture capital firm Gaorong Ventures, Beijing-based KargoBot said today. Several other institutions including Fengshion Capital and Orient Renaissance Capital also participated.

The proceeds will mainly be used to accelerate the large-scale expansion of autonomous trucking on trunk routes and to develop a smart transportation system, including transport robots and logistics operating systems, KargoBot said. The company expects to deploy 1,000 Robotrucks this year and to reach a fleet of 10,000 units over the next few years, it added.

Long-haul freight accounts for over 70 percent of China’s cross-regional goods flow and is the largest segment in the field of autonomous driving, KargoBot said, adding that long-haul self-driving is approaching a commercial turning point and is expected to enter a period of rapid scaling within the next one to two years.

Established in 2021, KargoBot was incubated by Didi’s self-driving division before being spun off as an independent firm. It uses a hybrid formation model, where a human driver leads a convoy of autonomous trucks, and aims to address challenges such as truck driver shortages and an aging workforce.

Last year, KargoBot became one of China's first companies to receive commercial pilot qualifications for autonomous truck convoys. It currently operates over 400 autonomous trucks, conducting tests and operations across more than 10 provinces and cities and has accumulated a total mileage of more than 3,500 kilometers, it said.

KargoBot has also partnered with several automakers and has launched seven mass-produced models, supporting over 20 customers in smart logistics operations. Additionally, the company has established innovative alliances with more than 30 industry partners to expand autonomous freight applications and develop new business models, it added.

Editor: Kim Taylor