Neolix Raises Millions in Its Series B Funding Round

neolix
(Source: Reuters)

Neolix, a Beijing-based self-driving startup, said it had recently closed a round of Series B funding in which an undisclosed multi-million-dollar amount was raised. Co-led by CICC Capital and SoftBank Ventures Asia and joined by two existing investors, Yunqi Partners and Glory Ventures, the funding was aimed at the large-scale expansion of the company’s service network.

In March last year, Neolix announced it had obtained nearly 200 million yuan in Series A funding, led by electric vehicle firm Li Auto and joined by Addor Capital and existing investors Yunqi Partners and Glory Ventures.

Along with the increasing labor cost of delivery, the growing appetite of immediate consumption from young customers and the rising demand for no-contact delivery services during COVID-19, Robo-Delivery has recently experienced massive market growth.

Neolix believes the market size of “new mobile retail” with Robo-Delivery as the core will measure up to that of L4 autonomous driving industries such as Robo-Taxi and Robo-Truck.

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According to its official report, Neolix, founded in February 2018, has delivered and deployed nearly 1,000 autonomous vehicles in more than 30 cities in nine countries around the world. It has safely driven 1.3 million kilometers to deliver more than 1 million orders to over 300,000.

Neolix said it has established cooperation with hundreds of retail and catering enterprises such as Pizza Hut and KFC to provide consumers with unmanned food delivery services by self-driving vehicles in more than 10 cities, including Beijing, Shanghai and Xiamen. At present, the company’s main source of income is the share of order income with cooperative merchants, and its annual income has been over tens of millions of RMB. In the future, the company will also explore other business models.

In addition to the retail scene, the company is now expanding the business scope by entering logistics, urban services and other fields. It is also accelerating entry into overseas markets.