(Yicai Global) Aug. 3 -- Inceptio Technology has secured USD270 million in its latest funding round led by Chinese e-commerce giant JD.Com's logistics arm, life services platform Meituan and investment firm PAG, online news outlet The Paper reported today.
Other participants in the B Series included Chinese courier Deppon Express, battery manufacturer Contemporary Amperex Technology, electric vehicle startup Nio and venture capital firm IDG Capital.
The funds raised will be used to increase spending on Inceptio’s self-developed truck autonomous driving system and speed up its push in the electrification field, the report said.
The logistics industry may be the first to make extensive use of autonomous driving technologies, said Yu Rui, chief executive officer of JD Logistics. Unmanned vehicles will greatly optimize transportation costs and efficiency, he added.
JD Logistics and Inceptio will team up to develop mid- and long-distance autonomous freight solutions, cloud platforms and autonomous driving technology for a win-win situation, Yu said.
California-based Inceptio, which also has an office in Shanghai, has already developed three heavy-duty truck models capable of Level Three autonomous driving with Dongfeng Motor and China National Heavy Duty Truck Group. Deliveries should start before the end of the year.
Editor: Kim Taylor