Neolix Secures Over $500 Million in Pre-IPO Funding with Tencent Participation
Neolix, a leading Chinese autonomous delivery company, has completed a Pre-IPO funding round exceeding $500 million, according to sources familiar with the matter. The round attracted new investors including Tencent and Gaocheng Capital, alongside existing shareholders, multiple state-backed AI funds, and Middle Eastern investors.
Sources told Chinese media that formal funding has reached $500 million, with additional capital still being processed, suggesting the total round size will substantially exceed the initial figure. The company is expected to initiate IPO preparations soon following the funding closure, according to people briefed on the plans.
Bloomberg reported the financing round could be announced as early as this week, bringing Neolix's total cumulative fundraising to over $1 billion. The capital injection underscores investor confidence in the company's Level 4 autonomous driving technology amid surging demand for unmanned delivery solutions in e-commerce and urban logistics.
Founded by Yu Enyuan in 2018, Neolix has established itself as a frontrunner in autonomous delivery. The Beijing-based company has obtained road operation permits across more than 85 Chinese cities and expanded into 15 countries, including Saudi Arabia, the UAE, and Singapore. As of July 2025, Neolix has deployed over 7,500 unmanned vehicles, accumulating more than 42 million kilometers of Level 4 autonomous driving mileage.
In early September, the company celebrated a milestone with the delivery of its 10,000th vehicle from its Zhejiang Tonglu facility, marking its transition from technology validation to large-scale commercialization. Following this funding, monthly production capacity is set to increase to approximately 2,000 units, a significant jump from last year's total delivery of just over 1,000 vehicles.
Neolix's core product line comprises the RoboVan series, including X3, X6, and X12 models designed for last-mile and mid-range delivery. The vehicles are powered by NVIDIA DRIVE Orin chips with 254 TOPS computing power and equipped with HD cameras and LiDAR sensors for all-weather autonomous operation on China's complex urban roads and highways.
The company operates the world's first Level 4 autonomous vehicle intelligent factory in Changzhou, Jiangsu Province, with current annual capacity of 10,000 units planned to reach 30,000 by end-2025. Neolix has secured orders for over 20,000 vehicles and completed more than 2 million deliveries for clients including JD.com, Alibaba, KFC, and Pizza Hut.
Previous backers include DiDi Global, Li Auto, Shell China, and China International Capital. The new funds will primarily support factory expansion and market penetration, while strengthening end-to-end autonomous driving model development.