Chinese autonomous trucking start-up Inceptio raises $100m

The A Sample truck co-developed by Inceptio and Dongfeng Motor Corporation, one of China's leading traditional automakers, was the first vehicle of its kind to be certified for mass-production in the domestic market. The truck is capable of level-three (L3) autonomy, which means it has the environmental detection and decision-making skills to operate independently, but there is still a human override function.

Inceptio's current business model is to deploy its L3 technology in vehicles developed with partners able to mass-produce trucks. These trucks will be sold to logistics players as an efficient, energy-saving, and safe transportation solution.

Inceptio claims to have signed service contracts with more than 100 logistics companies and plans to deliver L3 self-driving trucks starting from the end of 2021. It launched a pilot program last year with several domestic original equipment manufacturers (OEMs) and wants to roll out its own nationwide truck network in 2022. 

Most PE investment in China's autonomous driving space has targeted mainstream vehicle manufacturers such as Pony.ai, which recently secured $462 million in funding. Inceptio is among the more niche players. Others include UISEE Technology and Waytous, which focus on luggage transportation and the mining industry, respectively. UISEE recently won backing from Bosch Group, while Wayous got an extended Series A round led by Cathay Capital.

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• Topics
• Greater China
• Industrials
• Early-stage
• artificial intelligence
• Nio Capital
• GLP
• automobiles
• Logistics
• China