Yunqi Capital | Neolix Completes $1 Billion C+ Round, Advancing RoboVan Scale-Up

Neolix, a Yunqi Capital early-stage portfolio company and global leader in L4 autonomous commercial vehicles, recently announced the completion of a 1 billion RMB Series C+ funding round. The round was co-led by multiple logistics giants and financial investors including CICC Capital, with Yunqi Capital's long-term partner Cygnus Equity serving as the exclusive financial advisor. The proceeds will help Neolix further iterate its end-to-end autonomous driving model capabilities and enhance its delivery and deployment capabilities across more logistics scenarios.

Yunqi Capital has long maintained a sustained focus on the intelligent driving sector and holds a bullish view on the broad application prospects of autonomous vehicles in logistics. Drawing on years of logistics expertise, R&D capabilities, and mass production experience, Neolix has continuously explored business scenarios and emerged as a leader in the field. Yunqi Capital has supported Neolix since its Series A round, accompanying its growth into a leading enterprise in the autonomous vehicle sector.

How has Neolix built its technological and industry advantages? What progress has RoboVan commercial operations achieved? In this edition of "Yunqi Partners," we take you through the details.

The following content is adapted from "Neolix Autonomous Vehicles."

01 Addressing Pain Points in a Trillion-RMB Market, Defining a New Paradigm for Autonomous Logistics

For a long time, the logistics industry has been constrained by fragmented scenarios and low vehicle utilization rates, urgently requiring new efficiency tools to break through.

Industry experts widely believe that 2025 will mark the explosive growth inflection point for autonomous logistics. In the recently released ARK Big Ideas 2025 report by renowned Silicon Valley investor Cathie Wood ("ARK Invest"), autonomous logistics features prominently — with Neolix ranked among the top players.

Neolix ranked among the top in Cathie Wood's report on the autonomous logistics track

Neolix has long focused on applying L4 autonomous driving to logistics scenarios, particularly urban delivery. Similar to RoboTaxi, it is commonly referred to in the industry as RoboVan. Compared to RoboTaxi, RoboVan represents a larger market scale and more complex scenarios. Through sustained R&D investment and product iteration, Neolix became the first RoboVan company in China to obtain a public road license in 2021, pioneering commercial RoboVan operations on public roads. To date, the company has launched three autonomous vehicle models — the X3, X6, and X12 — with cargo capacities of 3m³, 6m³, and 12m³ respectively, comprehensively covering the autonomous upgrade path from three-wheeled vehicles to vans to light trucks. These models precisely address logistics needs across e-commerce express delivery, fresh and cold-chain goods, supermarket FMCG, wholesale markets, and other scenarios, bringing revolutionary solutions to the industry.

Neolix founder and CEO Enyuan Yu notes that the complexity of RoboVan scenarios extends far beyond urban autonomous driving. To truly help customers save costs and improve efficiency through autonomous logistics, unmanned loading, unloading, and even handling capabilities are also required. How to achieve autonomous logistics in each细分场景 is backed by profound industry insight. Through deep integration of map systems, dispatch requirements, and loading/unloading tools tailored to logistics scenarios, Neolix has enabled the third revolution — "autonomous vehicles + automated loading/unloading" — that truly and efficiently connects both ends, following the two previous transformations of "automated sorting" and "unmanned stations." This end-to-end integration has delivered over 50% reduction in per-package delivery costs, helping industry clients successfully double their profits through autonomous vehicles. Beyond express delivery, scenarios including fresh goods, cold chain, supermarkets, and freight forwarding are also rapidly completing validation and are expected to enter explosive growth in the second half of 2025.

Neolix X6 Autonomous Vehicle, 6m³ cargo capacity

02 Building a Four-Pillar Moat, Leading Industry-Wide Scaled Delivery

RoboVan products need to achieve all-weather, all-hours operation at urban complex roads with minimum speeds of 40 km/h — a safety requirement no lower than RoboTaxi. However, L4 algorithm capabilities meeting this demand are merely the entry ticket to the industry. To achieve true scaled delivery, Neolix has continuously built core capabilities across four dimensions:

Road Rights: In the most critical area of regulatory compliance, Neolix has demonstrated absolute leading advantages. The company has been deeply involved in drafting autonomous vehicle regulations and standards at the ministry and municipal levels, having accumulated over 85 city-issued "iron plate" road rights permits for autonomous vehicles. The total number of licenses obtained accounts for over 80% of all RoboVan licenses issued nationwide. To date, the company has successfully delivered nearly 3,000 vehicles, with cumulative autonomous driving mileage exceeding 24 million kilometers, making it one of the world's largest autonomous vehicle fleets.

Algorithms: Since 2020, Neolix was the first in the RoboVan field to implement vision-centric autonomous driving algorithms for public road scenarios. In 2024, Neolix further strengthened its algorithmic leadership by becoming the first to launch its self-developed L4 4D One Model perception foundation model. With a leading sensor configuration of 12 cameras and 1 LiDAR, the vehicle is fully capable of traveling in motor vehicle lanes at speeds exceeding 70 km/h, enabling all-weather, all-hours, all-scenario road passage capabilities. Whether in adverse conditions such as nighttime, rain, or haze, or complex road conditions including unpaved roads, narrow lanes, and toll gates, the vehicles maintain stable and safe operation.

Hardware-Software Integration: Neolix has consistently pursued forward development, designing vehicle platforms specifically for logistics scenarios that meet high reliability requirements while minimizing transportation costs for customers. To ensure product quality, Neolix invested in building the world's first L4 autonomous vehicle smart manufacturing factory. Thanks to proprietary central integrated module precision manufacturing processes and automated sensor calibration, Neolix has achieved production capacity of one vehicle rolling off the line every 10 minutes, with single-shift annual output exceeding 10,000 units. In 2025, the company will further expand capacity to meet explosive market demand growth.

Deep Scenario Coupling: The commercial deployment of autonomous delivery vehicles hinges on deeply understanding customer scenario requirements. For large depot fleets, Neolix has developed cluster dispatch capabilities, providing targeted solutions for indoor/outdoor high-precision positioning, time-sharing multiplexing, flexible deployment, and real-time route adjustment — directly addressing customer pain points. Following model validation during 2023–2024, Neolix has become the largest autonomous vehicle supplier to the direct-operated express systems of SF Express, JD.com, and China Post, with order share exceeding 90% at each. Among leading domestic franchise-based express groups including ZTO, YTO, and STO, Neolix has distinguished itself through superior product and delivery capabilities, becoming the only autonomous vehicle enterprise to receive official supplier certification and support from each group's headquarters. Consequently, Neolix's sales teams have rapidly secured bulk orders from numerous depot owners nationwide, strongly propelled by headquarters policies. Neolix's proprietary "autonomous vehicle + roll cage" delivery system precisely addresses customer scenario needs, successfully solving automated loading and unloading on top of automated transportation, further improving delivery timeliness and responsiveness. This innovative approach has also unlocked the enormous potential of nighttime delivery.

Since the beginning of 2025, Neolix autonomous vehicles have accumulated over 20,000 customer orders. This funding round will help Neolix further iterate its end-to-end autonomous driving model capabilities and enhance its delivery and deployment capabilities across more logistics scenarios, accelerating the落地 of autonomous logistics and injecting stronger momentum into the intelligent upgrading of the global logistics industry.