Inceptio Technology, a top autonomous truck firm, announced its US$120 million financing directed by Contemporary Amperex Technology Co., Limited (CATL), a worldwide pioneer in the development and production of lithium-ion batteries. This funding is the next successful capital raising in six months since the last announcement of US$100 million in April.
The financing helps Inceptio Technology accelerate from the volume creation and commercialization of Level 3 autonomous heavy duty trucks and expand its lead to the Chinese autonomous driving truck industry.
Inceptio Technology is working relentlessly with its strategic investors and partners towards a frequent vision of building the”Autonomous Driving + Clean Energy + Asset Service” along with the following generation of TaaS (Transportation as a Service) network.
The organization partners with Dongfeng Commercial Vehicles and SINOTRUK in the growth of Level 3 Autonomous Truck, the volume production is expected at the end of 2021, the earliest from the world. The business has also started constructing its commercial community with over 100 logistics clients signed thus far. Inceptio Technology’s self-developed full-stack autonomous driving program boasts the world’s most innovative ultra-long-range 3D perception capability. Its on-board computing system includes 245 terra operations per second (TOPS), leading in functional safety design and is the first to support homegrown AI chips.
“Inceptio Technology’s growth rides on China’s rapidly-growing market and fast development of the business,” explained Julian Ma, Founder & CEO of Inceptio Technology. “Inceptio Technology will concentrate on the trillion-RMB line-haul logistics market and we endeavor to select the world leading place in the creation and commercialization of Level 3 Autonomous Driving Trucks. We appreciate all our clients for their confidence and support in the team. Inceptio Technology will cooperate with our industrial partners to construct a nation-wide autonomous partitioning network, and also to make logistics graceful through technology!”