Inceptio Technology secures US$188m in financing

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Chinese autonomous driving truck technology and operation company Inceptio Technology has closed a US$188m Series B+ equity financing round. This was led by Sequoia Capital China and Legend Capital. Co-investors include Chow Tai Fook Enterprises Limited, Cedarlake Capital, supply chain solution and finance provider Wuchan Zhongda Group, and an international equity fund. Existing investors including Meituan, Nio Capital, Eight Roads and Broad Vision Funds also participated.

The company states that the investment will enable it to further accelerate the development of its self-developed full-stack autonomous driving system Xuanyuan, introduce more mass-produced autonomous driving truck models to the market, and speed up in electrification.

At the end of 2021, Inceptio Technology and a Chinese OEM started mass production of L3 autonomous driving heavy-duty trucks, after three years of development. The L3 trucks have all been deployed to daily commercial operation on line-haul freight routes across China.

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Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he oversees Automotive Powertrain Technology and Professional Motorsport World magazines as editor.

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