Trunk Tech, a Chinese autonomous truck technology startup backed by EV maker Nio, raised an undisclosed amount in its Series B, the company announced.
The round was led by state-owned automaker BAIC, which is also partnering with ride-hailing giant Didi to get a fleet of self-driving taxis on public roads by 2025.
New investors in this latest fundraising round include private equity firm Pre-IPO Capital Ltd and Zhengzhou municipal investment fund.
Trunk Tech, which was founded in 2017, said it has delivered more than 100 driverless trucks to clients including China National Offshore Oil Corporation in trial projects at domestic ports in Tianjin and Ningbo.
The startup said it is operating a testing fleet made of dozens of autonomous trucks, which haul cargo for partners such as JD Logistics, Deppon Logistics, and Alibaba-backed STO Express, with its fleet having now driven 1.5 million kilometers.
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