(Yicai) Feb. 27 -- Zelos Technology, a Chinese developer of unmanned logistics vehicles, has completed its USD100 million Series A round of financing, led by takeout giant Meituan.

Some of the other participants include Baidu Venture, Unicorn, Xianting Private Equity Fund Management, and Seekdource Investment Management, the Suzhou-based startup announced today. Existing shareholders Blue Lake Capital and C&D Emerging Industry Equity Investment also chipped in.

Zelos intends to use the proceeds of the fundraiser to promote research and development of technology, enhance its supply chain, refine its business model, and add to its team of talent.

Founded in 2021, Zelos has R&D centers in Beijing and Silicon Valley. The company aims to commercialize L4 autonomous driving.

Last year, Zelos launched the Zelos Z5, a series of L4 delivery vehicles for packages and fresh food in urban areas. The Zelos Z5 can carry a weight of 1,000 kilograms, with a cruising range of 180 kilometers and a speed of 40 km per hour. The firm has brought its fleet to nearly 50 cities and regions, including Singapore.

Editor: Emmi Laine