Trunk.tech Wins New Round of Financing, Company to Accelerate Mass Production of Self Driving Trucks

trunk
(Source: Trunk.tech)

On Wednesday, autonomous trucking startup Trunk.tech, also known as TRUNK, disclosed a new round of financing worth several hundred million yuan, which was jointly led by the Yuexiu Industrial Investment Fund, ZWC Partners and Bohai Zhongsheng.

According to the company, with the new round of capital, Trunk.tech will accelerate the R&D and mass production of its self driving trucks. The company also aims to promote the operation of its logistics operations and self driving technology in port locations.

The company’s official website shows that Trunk.tech was founded in 2017 and it focuses on the R&D and application of L4-level self driving technology for trucks. The company provides the automated driving technology and transportation services for port shipping hubs and highway logistics.

Based on its independently developed and designed L4-level self driving system “Trunk Master”, Trunk.tech has launched a number of self driving trucks for mass production.

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In port shipping hubs, Trunk.tech participated in many domestic smart logistics projects such as at  Tianjin Port, and delivered over 100 unmanned trucks. In highway logistics, the company has become one of the first companies to obtain Beijing’s permit that allows road tests for self-driving commercial vehicles on highways throughout China.

Trunk.tech has also established a fleet of self driving trucks for highway logistics, and carried out special transportation projects with partners such as JD Logistics, Deppon Express, FOR-U Smart Freight and STO Express. The cooperation between the companies has seen the accumulated transportation mileage exceed 1.2 million kilometers.