Autonomous Driving Firm TrunkTech Completes B Round of Financing

Autonomous driving technology and services provider TrunkTech announced Wednesday that it had obtained a new round of financing led by BAIC Capital and followed by Zhengzhou Holdings and Top Capital. TrunkTech has thus completed its round-B financing. It will continue to promote the R&D of digitalization, intelligence and unmanned trucks and provide customers with intelligent logistics solutions.

TrunkTech is committed to providing leading L4 automated driving truck technology and capacity services for the logistics industry, and building a new generation of AI logistics networks that can cover China. It aims to make logistics transportation more efficient, safe and economical.

Based on its independently developed L4 self driving system “Trunk Master,” TrunkTech has mass produced a number of self driving trucks.

At the same time, TrunkTech has participated in many domestic smart logistics hub projects, such as the Port of Tianjin and the Port of Ningbo-Zhoushan. It has delivered over 100 unmanned port trucks in total, making it a global leader in terms of market share. The firm also has taken the lead in realizing the operation of unmanned port logistics without safety officers.

On the other hand, TrunkTech obtained the first batch of commercial vehicle autonomous driving test licenses in Beijing. The firm has carried out normalized L4 automated driving tests and demonstration operations on the Beijing–Taipei Expressway (Jingtai Expressway).

SEE ALSO: Wins New Round of Financing, Company to Accelerate Mass Production of Self Driving Trucks

TrunkTech has established a fleet of self driving trucks for highway logistics, and has carried out regular shipping projects with partners such as JD Logistics, Deppon Express, FOR-U Smart Freight and STO Express. Cooperation between the companies has seen accumulated transportation mileage exceed 1.2 million kilometers.

At present, the company has received investment from many top institutions in fields such as artificial intelligence, logistics and automobiles. Investors include iFLYTEK, Hidden Hill Capital, NIO Capital, Bosch Venture Capital, Eastern Bell Capital, Yuexiu Fund, ZWC Partners, BAIC Capital and Top Capital.