China's autonomous truck startup Inceptio raises $270m in Series B

China's autonomous truck startup Inceptio raises $270m in Series B

China’s Inceptio Technology, a startup that develops autonomous trucks, announced on Tuesday that it has closed $270 million in a Series B round of financing jointly led by JD Logistics, Chinese food delivery Meituan, and private equity (PE) firm PAG.

Eight Roads Ventures, Fidelity International’s venture arm; Chinese logistics service Deppon Logistics; investment firm IDG Capital; CMB International, a wholly-owned subsidiary of China Merchants Bank; PE firm CMG-SDIC Capital; South Korea’s Mirae Assets; and Beijing-based PE firm Broad Vision Funds participated in the round.

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