Event
Neolix Completes Nearly $400 Million Series E Funding, Targets Overall Profitability by 2027
4 reports · 3 sources
Neolix, an L4-level unmanned delivery vehicle company, announced the completion of nearly $400 million (approximately RMB 2.68 billion) in Series E funding, jointly led by Boyu Capital and a certain national-level fund, with participation from Alibaba AEF NextGen Hong Kong Fund, GGV Capital, Temasek's Vertex Growth, among others, bringing cumulative funding to over RMB 10 billion. Officials have not yet disclosed the specific name of the national-level fund that co-led the round. Founder Yu Enyuan said the original plan was to raise $200 million, but the round was ultimately oversubscribed by nearly double. The funds will be used for building a global operations network and for end-to-end autonomous driving large-model R&D. The company says per-vehicle revenue gross margin can exceed 60%, but overall profitability has not yet been achieved, with the goal of achieving company-wide overall profitability by 2027. On overseas business, Neolix says overseas revenue currently accounts for less than 10%; in the Middle East market, order volume this year has exceeded 10,000 vehicles, but due to factors such as logistics and transportation, actual deliveries remain fewer than 1,000 vehicles. The funding disclosed in this round does not include overseas-related funds.
Report timeline
- Neolix completes nearly $400 million Series E, CEO Yu Enyuan discusses logistics vehicle TCO and overseas expansion
Neolix announced on October 20 that it completed a Series E round of nearly $400 million, co-led by Boyu Capital and a state-level fund, with participation from Alibaba's AEF NextGen Hong Kong fund, GAC Capital, GGV Capital, Temasek's Vertex Growth and others. CEO Yu Enyuan said the original plan was to raise $200 million, and the round was ultimately oversubscribed.
36Kr Embodied Intelligence ·
- Neolix completes nearly $400 million Series E funding, unmanned delivery shifts to large-scale operations
Neolix announced on October 20 that it has completed nearly $400 million in Series E funding, led jointly by Boyu Capital and a certain national-level fund, bringing its cumulative funding to over 10 billion yuan. Founder Yu Enyuan said the original plan was to raise $200 million, and the final amount exceeded the target by nearly double. The company disclosed that per-vehicle revenue gross margin can exceed 60%, but overall profitability has not yet been achieved, with a goal of achieving company-wide profitability in 2027.
钛媒体 ·
- Unmanned Delivery Sector Funding and Scenario Review: Riders Not Yet Replaced, Unmanned Vehicle Competition Intensifies
On October 20, New Stone announced the completion of nearly 400 million USD in Series E funding (about 2.68 billion RMB), with cumulative funding exceeding 10 billion RMB; one day earlier, reports emerged that Meituan's unmanned vehicle promotion review was postponed to the end of the year so that results from the new vehicle project could be included in the assessment.
钛媒体 ·
- Neolix completes nearly $400 million Series E, cumulative funding exceeds 10 billion yuan
Neolix, an L4 autonomous delivery vehicle company, announced the completion of a nearly $400 million (about 2.68 billion yuan) Series E round, co-led by Boyu Capital and a certain national-level fund, with participation from Alibaba's AEF NextGen Hong Kong fund and others, bringing cumulative funding past 10 billion yuan. The funds will be used to build a global operations network and develop an end-to-end autonomous driving large model. Neolix's unmanned vehicle fleet now exceeds 30,000 units, covering nearly 20 countries and more than 300 cities worldwide, with cumulative driving mileage exceeding 260 million kilometers.
车东西 ·