On 28 February 2022, Inceptio Technology, a company dedicated to autonomous truck technology and operation, announced that it has closed its Series B+ equity financing of US$188 million. Sequoia China and Legend Capital are lead investors in this round of financing. Other investors included Chow Tai Fook Enterprises Limited, Cedarlake Capital, a large international equity fund and Wuchan Zhongda Group Industrial Investment (物产中大集团产业投资), a company dedicated to intelligent supply chain and supply chain finance. The financing also attracted existing shareholders such as Meituan and NIO Capital. Before that, Inceptio Technology had raised a cumulative US$500 million through financing.
With its self-developed full-stack L3 and L4 autonomous driving technologies, Inceptio Technology joined hands with OEM partners to provide logistics customers with safer and more efficient autonomous trucks and a new generation of autonomous driving freight network. By the end of 2021, Inceptio Technology, in cooperation with OEM partners, put its L3 autonomous trucks into mass production.
This round of financing will enable Inceptio Technology to further invest in its autonomous truck system “Xuanyuan (轩辕)”, to put more models into mass production in cooperation with industry partners and accelerate its business expansion in the field of electrification.