Inceptio Technology, a Chinese autonomous truck company, has announced its successful $120 million funding round led by Contemporary Amperex Technology Co., Limited (CATL). NIO Capital also participated in this latest round.
This funding is the second successful capital raising in six months since the last announcement of $100 million in April, 2020.
The funding will help Inceptio Technology accelerate in the volume production and commercialisation of Level 3 autonomous heavy-duty trucks.
Julian Ma, Founder & CEO of Inceptio Technology, says: “Inceptio Technology’s growth rides on China’s rapidly-growing economy and fast development of the industry. Inceptio Technology will concentrate on the trillion-RMB line-haul logistics market and we strive to take the world leading position in the production and commercialization of Level 3 Autonomous Driving Trucks. We have made the right strategic choice to be the first to commercialize Level 3 trucks, and we made a firm commitment to develop our proprietary full-stack autonomous driving system.”
Ma adds: We appreciate all of our investors for their confidence and support in the team. Inceptio Technology will work closely with our industrial partners to build a nation-wide autonomous trucking network, and to make logistics graceful through technology!”
Founded in April 2018, Inceptio Technology is partners with Dongfeng Commercial Vehicles and SINOTRUK in the development of Level 3 Autonomous Truck, the volume production is expected by the end of 2021. The company has also started building its commercial network with over 100 logistics clients signed to date.
To read our interview with Julian Ma, click on the link below.