Neolix Completes Series E Financing, Led Jointly by Boyu Capital and the National Big Fund

On October 20, Neolix, a globally leading autonomous driving technology company, announced the official completion of nearly US$400 million in Series E financing. Market data shows that this financing is the largest single financing in the domestic autonomous driving sector this year. Last year, the company's Series D financing of over US$600 million set a private equity financing record in China's autonomous driving sector. This round of financing was jointly led by Boyu Capital and a certain national-level fund, with participation from Alibaba AEF NextGen Hong Kong Fund, Monolith Management, GGV Capital, Temasek's Vertex Growth, Huaying Capital, GAC Capital, CP Siasun Robot&Automation, and Gaohu Capital, among other institutions. Existing shareholders including Stone Venture, CITIC Capital, Yizhuang Guotou, Zhechuang Investment, CDH VGC, Shanshui Capital, and Gaorong Ventures followed on. Sources indicate that the certain national-level fund is the National Artificial Intelligence Industry Investment Fund, a national-level "Big Fund" focused on the AI industry. This investment also marks the first time the "Big Fund" has turned its attention to the autonomous driving and unmanned logistics track. In Neolix's 2025 Series D financing, Tencent made a strategic investment, which was seen as a signal of Tencent stepping up efforts to improve the AI and autonomous driving track and lay out smart logistics scenarios. Industry insiders believe that the core advantages Neolix has built through technological innovation and deep scenario cultivation are the core reasons for obtaining Tencent's strategic investment. Alibaba also participated in Neolix's financing this round, making Neolix the only company in the RoboVan track to simultaneously have both Tencent and Alibaba as shareholders. These two giant companies are also expected to further supplement the company's capital and brand support, helping its capacity improvement, technology iteration, and global expansion. From the perspective of capital structure, Neolix's shareholders span national team funds and local government support from Beijing, Zhejiang, and other regions; major tech companies such as Tencent, Alibaba, and Didi; industrial capital including Li Auto, GAC, and China Mobile Limited; Middle Eastern capital represented by Stone Venture; global capital such as Singapore's Temasek Vertex Growth, Shell, and SoftBank; as well as a roster of premium financial investors. All parties have confirmed Neolix's leading position through action and launched an industrial deployment around unmanned logistics. Over the past year, Neolix has continued to lead the world's largest autonomous driving fleet, operating a fleet of over 30,000 L4-level unmanned vehicles across nearly 20 countries and more than 300 cities worldwide, with cumulative mileage exceeding 260 million kilometers. Building on express delivery, it has created capacity services and continues to help customers reduce costs and increase efficiency. On the technology front, Neolix continues to build an industry-leading vision-centric end-to-end large model and, through a unified architecture combining cloud, edge, and vehicle models, has created the industry's largest efficient data flywheel of "operations, data, and algorithms," driving scaled operational upgrades and efficiency improvements. In terms of globalization, Neolix was the first in the industry to initiate deployment. In the Middle East, Neolix has launched large-scale deployment in the UAE and is gradually expanding to Saudi Arabia, Qatar, and other countries. In Europe, Neolix has established its European headquarters in Luxembourg and launched pilots in Portugal, Belgium, Switzerland, and other countries. In Asia, Neolix has put commercial operations into place in South Korea, entered the testing phase in Japan, Malaysia, and other places, and continues to lead the world in the largest overseas delivery scale of unmanned delivery vehicles. Lead investor Boyu Capital stated that Neolix, as an industry leader, was the first to explore building a nationwide capacity network through RoboVan, providing readily accessible unmanned capacity services to many benchmark customers in the industry, and has taken the lead in achieving large-scale deployment and delivery in multiple overseas countries, validating the global competitiveness of the company's products. Boyu Capital will continue to accompany and help Neolix create value for customers, support the company in consolidating its industry-leading position, and assist China's leading technology companies in setting sail and going global. Neolix officially stated that the funds from this round of financing will be focused on deepening refined operational networks and end-to-end large models, accelerating the layout of localized service hubs in major global regional hubs, and building a more agile and efficient global customer fulfillment network; further improving autonomous driving safety levels and vehicle performance, and continuously reducing the full-lifecycle operation and maintenance costs of vehicles.