Inceptio Technology Raises $120 Million in Financial Funding

By StartUp City | Monday, November 16, 2020

Inceptio Technology is working relentlessly with its strategic investors and partners towards a shared vision of building the "Autonomous Driving + Clean Energy + Asset Service" and the next generation of TaaS (Transportation as a Service) network.

FREMONT, CA: Inceptio Technology, a leading autonomous truck company, raised US$120 million in funding led by Contemporary Amperex Technology Co., Limited (CATL), a global leader in the development and manufacturing of lithium-ion batteries. Inceptio's key strategic investors GLP, G7, and NIO Capital, also participated in this latest round. This funding is the second successful capital raising in six months since the last announcement of US$100 million in April.

The funding will enable Inceptio Technology to accelerate the volume production and commercialization of Level 3 autonomous heavy-duty trucks and extend its lead in the Chinese autonomous driving truck industry.

Founded in April 2018, Inceptio Technology grows rapidly, focusing on the transformation of line-haul logistics with its unique "Technology + Operations" business model. The company partners with Dongfeng Commercial Vehicles and SINOTRUK in the development of Level 3 Autonomous Truck, the volume production is expected by the end of 2021, the earliest in the world. The company has also started building its commercial network with over 100 logistics clients signed to date. Inceptio Technology's self-developed full-stack autonomous driving system boasts the world's most advanced ultra-long-range 3D perception capability. Its on-board computing platform features 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 economy and fast development of the industry," said Julian Ma, Founder & CEO of Inceptio Technology. "Inceptio Technology will concentrate on the trillion-RMB line-haul logistics market and we strive to take the world leading position in the production and commercialization of Level 3 Autonomous Driving Trucks. We have made the right strategic choice to be the first to commercialize Level 3 trucks, and we made a firm commitment to develop our proprietary full-stack autonomous driving system. We appreciate all of our investors for their confidence and support in the team. Inceptio Technology will work closely with our industrial partners to build a nation-wide autonomous trucking network, and to make logistics graceful through technology!"

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