(Yicai) Dec. 18 -- Rino.ai, a Chinese producer of unmanned delivery vehicles, has completed its third financing round this year, bringing the total amount raised in 2025 to more than USD100 million.

Investors this time around included Ubiquant Partners, QF Capital, Oriza Holdings and Zhengjing Capital, with Gengxin Capital serving as long-term financial advisor, Beijing-based Rino.ai announced today, without disclosing how much it banked.

The proceeds will be used to accelerate the mass production and market rollout of the firm’s self-driving delivery vans, continue development of Level 4 autonomous driving technology, and expand applications such as same-city freight, instant delivery, and campus transportation. Some money will also go to step up overseas expansion. 

Rino.ai raised CNY200 million (USD28.4 million) in a Series B funding round in May, led by Chinese delivery giant SF Holding. Then in August, it completed a Series B+ round, bringing the total amount raised in both fundraisers to over CNY500 million (USD71 million).

Founded in 2019, Rino.ai now has the ability to mass produce its L4-level self-driving delivery vehicles, and has started large-scale deliveries to several clients, it said.

Rino.ai has built deep ties with Shenzhen-based SF, China Post Group, and e-commerce giant JD.com. The company has over 2,000 vans making regular runs in over 170 cities, with daily mileage climbing quickly, it added.

As self-driving tech matures, Rino.ai’s robovans are set for large-scale commercial deployment. The global market for unmanned logistics vehicles may hit CNY3.6 trillion (USD511.3 billion) by 2030, with China accounting for about 40 percent, the company said, citing US consulting firm McKinsey & Co. 

Editor: Kim Taylor