NeolixTechnologies secures RMB200m Series A+ led by EV maker Lixiang

Autonomous driving startup Neolix Technologies has recently closed around RMB 200 million in its Series A+ financing round, led by electric vehicle firm Lixiang. Addor Capital, existing investors Yunqi Partners and Glory Ventures also participated in this round.

Autonomous driving startup Neolix Technologies has recently closed around RMB 200 million in its Series A+ financing round, led by electric vehicle firm Lixiang. Addor Capital, existing investors Yunqi Partners and Glory Ventures also participated in this round.

After this funding round, Lixiang will becomes Neolix’s second-largest shareholder after the company’s CEO Yu Enyuan. In addition, Neolix it expects to close another new investment in 2020.

Previously, Neolix Technologieshas received two rounds of financing: in April 2018, it obtained an angel round of financing by CHJ Automotive and Oriza Holdings; in early 2019, it obtained Series A round of financing led by Yunqi Partners and joined by Glory Ventures.

Founded in 2018, Neolix was mainly developing level 4 short-distance commercial unmanned vehicles, which are currently applied in three scenarios: food delivery (mainly for group meals), mobile retail (selling fast food, coffee and other convenient goods), and security (cooperated with local governments).

It is worth mentioning that since its establishment, Neolix has cooperated with some Chinese large companies: it is a strategic partner of Baidu’s Apollo platform; it has sold unmanned vehicles to Meituan Dianping, JD.com and Alibaba Group; and it has cooperated with Huawei in 5G communication technology.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/07/neolixtechnologies-secures-rmb200m-series-a-led-by-ev-maker-lixiang/.

Leave a Reply

Please Login to Comment