Zelos, a Chinese autonomous driving technology company, has raised more than USD 300 million in a new funding round, pushing its valuation past RMB 10 billion (USD 1.4 billion). Based on publicly available information, this places it among the first autonomous logistics vehicle makers to reach that valuation threshold.

To date, Zelos has completed six financing rounds.

Founded in 2021, the company focuses on the development of Level 4 autonomous urban delivery vehicles, including robovans. Its operations center on urban trunk routes and B2B unmanned logistics.

As of the end of 2025, Zelos’ unmanned delivery vehicle business had reportedly expanded to more than 300 cities across China and entered overseas markets including Singapore, the UAE, Japan, South Korea, and Malaysia. In October 2025, it signed an order with China Post for 7,000 unmanned vehicles.

In January, Zelos completed a merger with Cainiao’s unmanned vehicle business. Following the integration, Zelos manages both brands. The combined fleet exceeds 20,000 vehicles, operating in more than 300 cities across over ten countries.

Under the merger terms, Cainiao’s brand has been licensed to Zelos and will no longer manufacture or directly sell unmanned vehicles. Instead, drawing on its logistics technology background, Cainiao will focus on specific use cases and key accounts, providing supply chain services built around robovans. Zelos will continue investing in autonomous driving R&D and delivering solutions across multiple scenarios.

According to 36Kr, Zelos’ unmanned vehicles can help clients reduce last-mile delivery costs by around 50%. After adopting unmanned vehicles, courier franchisees reportedly spend roughly RMB 2,000–3,000 (USD 280–420) per month per vehicle. Including vehicle costs, depreciation, and electricity expenses, the cost per parcel has declined from RMB 0.2 (USD 0.028) to RMB 0.1 (USD 0.014), according to the report.

Zelos has expanded its deployment scale at roughly a tenfold annual rate. In 2023, it deployed 200 unmanned vehicles. That number rose to 2,000 in 2024. By early 2026, following the integration with Cainiao, the total fleet had reached 20,000 vehicles.

Zhou Qing, co-founder of Zelos, previously said that excluding R&D expenses, the company has achieved breakeven. Including R&D costs, it expects to break even once its fleet reaches approximately 50,000 vehicles. The timeline for reaching that scale was not disclosed.

Currently, Zelos’ bestselling product is its first mass produced Level 4 model, the Z5. The company said it is the first unmanned logistics vehicle to offer a cargo box volume exceeding five cubic meters.

Within its product portfolio, the Z series serves as the standard lineup, with cargo volumes ranging from two to ten cubic meters. The lightweight E series targets niche scenarios such as community retail and low-density goods, offering a lower-cost option for lighter-duty use cases. The L series features higher payload capacity and improved charging efficiency, designed for heavier transport demands.

In recent years, the unmanned logistics segment targeted by Zelos has entered a phase of scaled commercialization. Over the past year, companies including QCraft and Desay SV Automotive, both automotive ecosystem suppliers, have also moved into the unmanned delivery market, intensifying competition.

KrASIA features translated and adapted content that was originally published by 36Kr. This article was written by Xiao Man for 36Kr.