Autonomous Trucking Startup Inceptio Completes Capital Raising of $100 Million

(Source: Velodyne Lidar, Inc.)

Chinese self-driving truck company Inceptio Technology announced that it has completed $100 million in equity financing. At the same time, Inceptio has completed the validation of A-sample of the L3 self-driving trucks jointly produced with Dongfeng Trucks. This is the first time in China’s autonomous driving industry that mass produced A-sample autonomous driving trucks have been validated.

Inceptio has partnered with leading OEMs in volume production of autonomous trucks which preload its proprietary software and computing hardware. Its L3 autonomous heavy-duty trucks are planned to be released from the OEM production line by the end of 2021.

To date, more than 100 logistics and freight companies have already signed up for Inceptio’s Smart Truck Asset Service, marking key progress in its commercialization.

Julian Ma, founder and CEO of Inceptio, said: “The A-sample validation in Inceptio-Dongfeng Trucks volume production development is a key milestone in productization for China’s autonomous driving industry. We are thankful to our investors and partners for their recognition of our R&D capability and business model and for their firm commitment to our future development.”

Based in Shanghai, Inceptio is a leading autonomous trucking startup and TaaS provider focusing on domestic line-haul freight shipping. It develops proprietary autonomous technology for trucks and will operate its own nationwide autonomous trucking network starting in 2022.