Chinese autonomous delivery vehicle company Neolix has secured nearly $400 million in a Series E funding round to expand its international operations, develop regional service hubs and advance the artificial intelligence (AI) systems powering its driverless delivery fleet.
The round was co-led by Boyu Capital, with participation from Alibaba’s AEF NextGen Fund, Granite Asia, Vertex Growth, Meridian Capital and other new and existing investors. Monolith Management, Stone Venture and Trustar Capital were also named among the investors in reports covering the financing.
Neolix has not disclosed its valuation following the investment. The latest funding brings its total capital raised to more than $1.4 billion, according to reported figures.
Funding Targets International Expansion and AI Development
Neolix plans to use the proceeds to strengthen its presence in overseas markets and establish regional service hubs to support commercial operations. The company also intends to increase data training for its AI models to improve the development and deployment of its autonomous delivery technology.
According to the company, its fleet comprises more than 30,000 vehicles operating across over 20 countries and regions. The existing deployments provide a foundation for expanding driverless logistics services and building a broader international support network.
Regional service hubs are expected to support the company’s overseas operations, although Neolix has not disclosed specific investment allocations or expansion timelines.
Latest Round Follows $600 Million Series D
The Series E financing follows Neolix’s Series D round, which raised more than $600 million. The company previously described that investment as a record private funding round for China’s autonomous driving industry.
The latest raise comes as companies developing autonomous delivery vehicles seek to scale commercial deployments and secure funding for fleet expansion, software development and international market entry.
Neolix faces competition from other businesses in the sector, including Zelos, which has also attracted investment to develop its autonomous delivery vehicle operations.
Partnerships Support Overseas Growth
Neolix is pursuing partnerships to help extend its services beyond China. In Singapore, the company has partnered with QuikBot to advance end-to-end autonomous delivery services in the city-state and explore opportunities in other markets.
However, international expansion also presents regulatory challenges. Proposed US connected-vehicle regulations could create additional barriers for Chinese connected vehicles seeking access to the American market, potentially complicating Neolix’s efforts to enter or expand in the United States.
The new funding gives Neolix additional capital to develop its technology and overseas infrastructure as it seeks to turn its existing fleet deployments into a larger international delivery business.