- KargoBot raised more than $100 million in a Series B round to scale its autonomous freight operations across China.
- The round was co-led by Horizon Robotics and Gaorong Ventures, with participation from HONGQI Investment, Fengshion Capital and Orient Renaissance Capital, according to the company.
- KargoBot said it operates more than 400 autonomous trucks with over 35 million kilometers driven and 1.2 billion tonne-kilometers of freight moved, positioning itself as the first to achieve a closed-loop commercial model for trunk-road driverless transport.
KargoBot has raised more than $100 million in a Series B funding round to expand its autonomous freight operations across China.
According to a LinkedIn post by KargoBot, the round was co-led by Horizon Robotics and Gaorong Ventures, with participation from HONGQI Investment, Fengshion Capital and Orient Renaissance Capital, along with follow-on backing from existing investors. The company said the capital will support large-scale deployment of its autonomous trucking platform and logistics operating system as it works to build what it describes as an intelligent, end-to-end transportation network.
KargoBot said it is the first company to achieve a closed-loop commercial model for autonomous trunk-road freight, validating its technology from pilot to revenue-generating operations. It currently operates more than 400 autonomous trucks, with cumulative mileage exceeding 35 million kilometers and total freight volume reaching 1.2 billion tonne-kilometers, according to the company. It also has established a benchmark project demonstrating positive unit economics in driverless freight.
The company indicated it plans to deploy 1,000 autonomous trucks this year and scale to tens of thousands in the coming years as it pushes commercialization of its Robotruck fleet.
Image credit: KargoBot
