Chinese Robovan Developer Neolix Raises Nearly $400 Million in Series E

Series E Round Led by Boyu Capital

Neolix Technologies, the Chinese developer of autonomous logistics vehicles known as Robovans, has announced it is raising nearly $400 million in a Series E funding round as it seeks to expand overseas and scale commercial operations. The round was anchored by Boyu Capital and attracted Alibaba's AEF NextGen Fund, Monolith Management, Granite Asia, Vertex Growth, Meridian Capital, GAC Capital and other investors, the company said on Tuesday.

Existing shareholders, including Trustar Capital, CDH VGC and Yunqi Partners, also participated in the round. The fundraising comes about a year after Neolix raised $600 million in its Series D financing, which was the largest private fundraising in China's autonomous driving sector. The company secured 1 billion yuan ($137.3 million) in an extended Series C round in February 2025, closed a Series B round at "a few hundred million Chinese yuan" in 2021 led by CICC Capital and SoftBank Ventures Asia, and raised nearly 100 million yuan ($13.7 million) in a Series A round in 2019.

Global Expansion and AI Investment

According to the company, Neolix's cumulative funding has now exceeded $1.4 billion, and it described the latest round as the largest single financing in China's autonomous driving sector this year. The company plans to use the proceeds to establish local service hubs in major regional markets and expand its global customer fulfilment network. It will also invest in data training for its artificial intelligence models to improve vehicle safety and performance and reduce operating costs.

"Our goal is to build an efficient, reliable autonomous transport network that becomes part of urban and rural infrastructure and makes affordable logistics accessible to more communities," said Enyuan Yu, founder and CEO of Neolix.

Malaysia Sandbox Trials

In June, Neolix received approval from Malaysia's Ministry of Transport to begin public-road sandbox testing of its Level 4 autonomous delivery vehicles in Cyberjaya, marking its entry into the country's autonomous mobility programme. The approval, granted under Malaysia's National Regulatory Sandbox framework, allows the company to begin road trials in the country's smart city hub.

Neolix will conduct the pilot with Malaysian logistics provider Tiong Nam Logistics, mobility platform Asia Mobiliti and AI infrastructure company MindHub. The trials will evaluate use cases including parcel delivery, campus logistics and e-commerce fulfilment, with testing expected to run through the second half of the year. The company said the move complements its ongoing expansion in Singapore and the broader Asia-Pacific region, citing Southeast Asia's growing e-commerce sector and increasing investment in AI, robotics and smart mobility.

Sources: DealStreetAsia · Bloomberg