White Rhino has completed a new round of financing, with the total annual financing exceeding $100 million.

On December 18th, "White Rhino", a leading Chinese company in L4-level autonomous driving, announced the completion of a new round of financing, jointly funded by Jiukun Venture Capital, Qifu Capital, Yuanhe Expectation, Zhengjing Capital, etc. So far, White Rhino has completed three rounds of financing in 2025, with the cumulative annual financing amount exceeding $100 million.

In 2025, the company's business achieved a leapfrog growth: It successfully topped the list of new orders from the three major direct-sale key accounts in the express delivery and logistics industry, with a business growth rate more than 20 times that of the same period last year. It also took the lead in completing the mass production preparation of the Robovan, an unmanned logistics vehicle, and started large-scale deliveries to multiple leading customers. The growth rate of active vehicles has consistently ranked among the top in the industry.

According to McKinsey's prediction, the global market size of unmanned logistics vehicles will reach 3.6 trillion yuan in 2030, with China accounting for about 40%, nearly 1 trillion yuan. As the end-to-end capabilities of autonomous driving continue to strengthen, the automotive-grade supply chain matures, and the efficiency of unmanned delivery improves, Robovan is accelerating from the "technology verification stage" to "large-scale commercial implementation".

White Rhino has precisely seized this structural opportunity, building a sustainable growth model with L4 autonomous driving technology + automotive-grade products + full-domain operation capabilities.

2025 is regarded as the first year of large-scale commercialization of Robovan. Although new players are flocking to the unmanned logistics track, creating a bustling scene in the industry, there are still only a handful of companies in the industry that truly have the ability for mass delivery.

White Rhino has established in-depth cooperation with multiple logistics giants such as SF Express, China Post, and JD.com, and has launched large-scale delivery deployments with clear scales. As of now, White Rhino has more than 2,000 actively operating vehicles, and its regular operations cover more than 170 cities globally, with the daily stable operating mileage rising rapidly.

A large amount of real operating data not only verifies the feasibility of its business model but also drives the continuous operation of the positive cycle of "data accumulation → algorithm optimization → operational efficiency improvement → scenario expansion". White Rhino has become the core supplier for the unmanned logistics and delivery business of leading enterprises, with the order volume continuously expanding, and its commercialization ability has been recognized by the market authorities.

As the industry moves towards an annual delivery scale of tens of thousands of units, the market's demand for unmanned vehicles is shifting from "emotional trial use" to lower full-life cycle costs, higher safety, and longer service life. White Rhino took the lead in developing an automotive-grade unmanned vehicle platform based on the automotive V-process. Together with partners such as the vehicle manufacturer Xinyuan Automobile and Jingwei Hengrun, it is jointly creating L4 unmanned logistics products and technical solutions that truly meet automotive-grade standards.

This platform adopts a platform-based and modular design, which can quickly adapt to the needs of various scenarios such as logistics, cold chain, and industrial parks. Currently, the relevant products are in the countdown to market launch, which marks that White Rhino will become the first domestic enterprise with the ability to mass-produce and deliver truly automotive-grade L4 unmanned logistics vehicles.

The three rounds of financing in 2025 have been highly recognized by industrial capital such as SF Group and SF Express Same-Day Delivery, as well as multiple professional investment institutions. This reflects the market's confidence in White Rhino's closed-loop capabilities in "technology - product - business". The funds from this round of financing will be mainly used for:

Accelerating the large-scale mass production and market promotion of the automotive-grade unmanned vehicle platform;

Continuously investing in the R & D of core L4 autonomous driving technologies to improve safety and robustness in complex urban scenarios;

Expanding high-value scenarios such as urban freight, instant delivery, and industrial park transfers, building multi-scenario operation capabilities, and accelerating the layout in overseas markets.

Through in-depth practice of automotive-grade standards, White Rhino is transforming from a technology verifier to a builder of industry infrastructure. The automotive-grade unmanned vehicle platform will not only significantly improve the safety, reliability, and full-life cycle cost advantages of the system but also make it one of the few unmanned vehicle enterprises that can truly meet the large-scale deployment needs of leading customers.

From large-scale orders from logistics giants to regular operations in more than a hundred cities across the country, and then to the rapid expansion of diverse high-value scenarios - relying on the technological barriers, mass production capabilities, and customer trust established by automotive-grade products, White Rhino is steadily promoting unmanned logistics towards large-scale profitability and is committed to becoming a key force in shaping the next-generation smart city logistics system.

This article is from the WeChat official account "Linear Capital", and is published by 36Kr with authorization.