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- KargoBot
KargoBot Funding, Investors & Competitors
KargoBot has raised $286M across 4 funding rounds, most recently a $100M Series B in March 2026.
Last KargoBot funding round
$100M
Series B · Mar 2026
Cumulative funding KargoBot raised
$286M
across 4 funding rounds
Key investors in KargoBot
Horizon Robotics
Erdos Group
Ordos State Investment Group
Shenzhen Capital Group
Gaorong Capital
Dongfang Jiafu
Shenzhen Investment Holdings
Chengdu High-tech Ceyuan Capital
About KargoBot
KargoBot is a Singapore-headquartered autonomous trucking company developing driverless robotrucks for freight transport. Founded in 2020, the firm focuses on sustainable operations using electric vehicles and AI navigation systems tested on highways in Southeast Asia. KargoBot partners with logistics providers for pilot routes between Singapore, Malaysia, and Thailand.
Founded
2021
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
KargoBot Funding History
KargoBot has raised a total of $286M across 4 funding rounds.
KargoBot's first fundraising round was a $62M undisclosed-stage round in October 2023. The most recent completed round was a $100M Series B in March 2026.
KargoBot funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2026 | Series B | Gaorong Capital (lead); Horizon Robotics (lead); Red Flag Capital; Dongfang Jiafu; Fengshion Capital | $100M | - |
| May 2025 | Series A | Ordos State Investment Group; Shaanxi Automobile Fund; Shenzhen Capital Group; Chengdu High-tech Ceyuan Capital | $42M | KargoBot, a Didi-backed Chinese autonomous driving freight startup founded in 2021, specializes in Level 4 autonomous trucking using a hybrid formation model where a lead human-driven vehicle guides follower autonomous trucks to address driver shortages and aging workforce issues. It operates in seven northern and northwestern Chinese cities, including Ordos, Inner Mongolia, focusing on bulk cargo logistics on industrial roads, highways, and expressways. As of April 2025, it had accumulated 20 million kilometers of L4 platooning operations and transported 200 million ton-km of goods. On May 14-15, 2025, KargoBot closed a Series A+ funding round raising nearly CNY300 million (USD41.6 million), with investors including Ordos State-Owned Assets Investment Holding Group, Shenzhen Capital Group, Shaanxi Automobile Fund (or Shanxi Automobile Group fund), and Orinno Capital. This followed a prior Series A of CNY600 million in June of the previous year with participants like CIMC Vehicle Group and Horizon AI. Proceeds aim to accelerate commercialization of L4 autonomous freight, scale deployments, and build a smart logistics network with partners. The company holds over 50 licenses for unmanned commercial operations and was first approved for intercity autonomous heavy truck platooning tests in Northwest China in 2025. It has validated operations in cold chain, fresh produce, and express freight. Later, in a Series B round (reported March 2026), KargoBot raised over USD100 million led by Horizon Robotics and Gaorong Ventures to expand its fleet to 1,000 trucks in 2026 and 10,000 long-term, operating over 400 trucks across 10+ provinces with 35 million km cumulative mileage and 1.2 billion tonne-km freight volume. |
| Jun 2024 | Series A | Shenzhen Investment Holdings; Ordos State Investment Group; Erdos Group; CIMC Vehicles (Gr); Horizon Robotics | $83M | KargoBot, a Chinese autonomous driving freight startup spun off from Didi Chuxing in October 2023 and founded in 2021, secured CNY600 million (USD82.6 million) in its Series A funding round on June 28, 2024. The round included investors Ordos State-Owned Assets Investment Holding Group, CIMC Vehicles Group, and Horizon AI (Horizon Robotics). Proceeds were allocated to accelerate commercialization of Level 4 self-driving freight formation technology, where a lead vehicle driven by a human is followed by unmanned trucks. The company had driven over 8 million kilometers in tests and focused trial operations in areas like Ordos, Inner Mongolia, for bulk logistics such as coal and wool. KargoBot specializes in L4 driverless freight formations for bulk logistics on trunk routes, which account for over 70% of China's cross-regional goods flow. By June 2024, it had raised over CNY1 billion (USD137.6 million) in the past year, including prior strategic investments from Horizon AI. The firm partnered with automakers for mass-produced models and conducted operations in sparsely populated logistics-heavy regions. Subsequent developments included a Series A+ round in May 2024 or 2025 with investors like Ordos State-owned Assets, Shenzhen Capital Group, and others, bringing 2025 funding to nearly CNY300 million, and a Series B in March 2026 raising over USD100 million co-led by Horizon Robotics and Gaorong Ventures. These supported fleet expansion to 1,000 Robotrucks in 2026 and 10,000 longer-term, with cumulative freight volume reaching 1.2 billion tonne-kilometers by Series B and over 20 million kilometers in L4 operations by April 2025. |
| Oct 2023 | Undisclosed stage | Erdos Group (lead) | $62M | KargoBot is an autonomous trucking company originally incubated by Didi Chuxing's self-driving division, launched in 2021 and spun off as an independent entity focusing on long-haul logistics with hybrid platooning technology where a human leads autonomous truck convoys. The company addresses driver shortages and aging workforce issues in China's bulk freight sector, operating L4 autonomous trucks across provinces with commercial pilot qualifications and partnerships with automakers for mass-produced models. In October 2023, Erdos Group led an investment of over RMB 450 million (about USD 61.8 million), enabling KargoBot's transition to independent operations while Didi retained majority ownership; leadership included Wei Junqing as CEO, Meng Xing as chairman, and Huang Zhou as CFO. This round aligned the company with specialized long-haul logistics for better financing and partnerships to accelerate commercialization. By early 2025, KargoBot raised additional funds including a Series B over USD 100 million co-led by Horizon Robotics and Gaorong Ventures for fleet expansion to 1,000 Robotrucks that year and 10,000 longer-term, plus a Series A+ in May 2025 involving Ordos State-owned Assets and others, totaling nearly 300 million yuan for that year to scale L4 operations nationwide. The company reported cumulative freight volume of 1.2 billion tonne-kilometers, operations in regions like Inner Mongolia, over 400 trucks, 3,500+ km mileage, serving 20+ customers across seven cities, and its KargoOmni solution boosting efficiency by 50-300%. It pioneered open-road tests in northern China and built alliances with 30+ partners. KargoBot targets arterial logistics handling 70% of cross-regional freight, with forecasts for commercialization inflection soon. |
Who has invested in KargoBot?
12 investors have backed KargoBot across its funding rounds, including Horizon Robotics, Erdos Group, Ordos State Investment Group, Shenzhen Capital Group, Gaorong Capital and Dongfang Jiafu.
Lead investors include Gaorong Capital, Horizon Robotics and Erdos Group.
KargoBot Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Jun 2024 | ||
| 2 | Lead | Oct 2023 | ||
| 2 | Lead | Jun 2024 | ||
| -- | 1 | Participant | Mar 2026 | |
| 1 | Participant | Jun 2024 | ||
| 1 | Participant | Mar 2026 | ||
| 1 | Lead | Mar 2026 | ||
| 1 | Participant | Jun 2024 | ||
| 1 | Participant | Mar 2026 | ||
| 1 | Participant | May 2025 | ||
This data is available for Pro users. Sign up to see all 12 KargoBot investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKargoBot Competitors
KargoBot competitors include listed companies like Tesla, General Motors, SAIC Motor and Aurora Innovation, and private ones like Applied Intuition and Argo AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $95B | $10B | $1.4T | 13.8x | ||
| Publicly listed | $185B | $15B | $76B | 1.0x | ||
| Publicly listed | $98B | $7.1B | $19B | 0.1x | ||
| Private | $415M | - | $15B | 36.1x | ||
| Publicly listed | $3M | ($786M) | $13B | 1040.1x | ||
| Private | - | - | $7B | - |
KargoBot Public Comps
KargoBot is still privately-owned, but its public comps include Tesla, General Motors, Canadian National Railway, Maersk, Old Dominion Freight Line, XPO, SAIC Motor, Aurora Innovation, Getlink and U-Haul.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $185B | $15B | 1.0x | 1.0x | 12.1x | 8.5x | |||
| $12B | $6.5B | 7.2x | 6.8x | 13.6x | 13.9x | |||
| $54B | $10B | 1.1x | 1.0x | 5.9x | 5.4x | |||
| $5.5B | $1.7B | 6.6x | 6.2x | 20.9x | 18.9x | |||
| $8.2B | $1.2B | 3.0x | 2.8x | 20.6x | 16.6x | |||
| $98B | $7.1B | 0.1x | 0.1x | 1.5x | 2.3x | |||
| $3M | ($786M) | 3957.3x | 1040.1x | (15.1x) | (15.5x) | |||
This data is available for Pro users. Sign up to see all KargoBot competitors and their valuation data. Start Free Trial | ||||||||
Common questions about KargoBot
| When was KargoBot founded? | KargoBot was founded in 2021. |
| Where is KargoBot headquartered? | KargoBot is headquartered in Beijing, China. |
| Is KargoBot publicly listed? | No, KargoBot is a private, VC-backed company. |
| How much funding has KargoBot raised? | KargoBot has raised $286M across 4 funding rounds. |
| What was KargoBot's last funding round? | KargoBot's last funding round was a $100M Series B in March 2026, led by Gaorong Capital and Horizon Robotics. |
| Who are KargoBot's investors? | KargoBot's investors include Ordos State Investment Group, Erdos Group, Horizon Robotics, Red Flag Capital, Shenzhen Investment Holdings, Dongfang Jiafu, Gaorong Capital, CIMC Vehicles (Gr), Fengshion Capital, Shaanxi Automobile Fund and 2 others. |
| Which companies are comparable to KargoBot? | Companies comparable to KargoBot include Tesla, General Motors, SAIC Motor, Applied Intuition, Aurora Innovation and Argo AI. |
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