Zelos Valuation, Funding & Investors

Zelos is valued at $2B as of February 2026.

See full Zelos profile

Last Zelos valuation

$2B

Undisclosed stage · Feb 2026

Last Zelos funding round

$300M

Undisclosed stage · Feb 2026

Cumulative funding Zelos raised

$800M

across 5 funding rounds

Key investors in Zelos

  • Blue Lake Capital
  • Baidu Ventures
  • CDH Investments
  • Xiamen C&D Emerging Industry Equity Investment
  • Unicorn Capital Partners
  • Ant Group

Zelos Overview

About Zelos

Zelos is a Shenzhen-based autonomous driving company developing Level 4 robotaxi software and hardware for urban mobility in China. The stack includes LiDAR fusion perception, V2X infrastructure, and fleet management for 24/7 operations. Founded in 2019, Zelos operates pilot fleets in Guangzhou serving 10,000 rides monthly via WeChat mini-app bookings.


Founded

2021

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Licensing, Subscription

Valuation

$2B (Feb 2026)

Zelos Valuation

Zelos is currently valued at $2B, based on its undisclosed-stage round in February 2026.

Zelos' valuation has grown 2.0x from $1B at its Series B in April 2025 to $2B in February 2026, across 3 priced rounds.

Zelos valuation by funding round

Zelos valuation by funding round
DateStageValuation
Feb 2026Undisclosed stage$2B
Oct 2025Series B$1.6B
Apr 2025Series B$1B

Zelos Funding History

Zelos has raised a total of $800M across 5 funding rounds.

Zelos' first fundraising round was a $100M Series A in February 2024. The most recent completed round was a $300M undisclosed-stage round in February 2026.

Zelos funding rounds

Zelos funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2026Undisclosed stage-$300M$2BZelos is a Chinese autonomous driving technology company founded in 2021 that develops Level 4 autonomous urban delivery vehicles, including robovans for B2B unmanned logistics operations. The company focuses on urban trunk routes and has expanded its deployment across more than 300 cities in China while entering overseas markets including Singapore, the UAE, Japan, South Korea, and Malaysia. In February 2026, Zelos closed a Series B-IV funding round raising over USD 300 million, bringing its valuation to RMB 10 billion (approximately USD 1.4 billion). This made Zelos one of the first autonomous logistics vehicle makers to reach that valuation milestone. The round represented the company's sixth financing round since its founding. Zelos has achieved significant operational scaling, deploying 200 unmanned vehicles in 2023, 2,000 in 2024, and reaching 20,000 vehicles by early 2026 following integration with Cainiao's fleet. The company's flagship product is the Z5, described as the first unmanned logistics vehicle with a cargo box volume exceeding five cubic meters. In October 2025, Zelos secured a major order from China Post for 7,000 unmanned vehicles. According to co-founder Zhou Qing, the company has achieved breakeven excluding R&D expenses and expects to reach full breakeven once its fleet reaches approximately 50,000 vehicles.
Oct 2025Series BAnt Group (lead); Blue Lake Capital; Baidu Ventures$100M$1.6BZelos is a Beijing-based autonomous delivery vehicle company building robovans for B2B delivery operations. The company, approximately four years old at the time of this funding round, operates in the autonomous logistics and last-mile delivery sector in China. In October 2025, Zelos raised $100 million in a Series B4 extension round led by Ant Group, with participation from additional investors including Baidu Ventures, Blue Lake Capital, CDH Investments, Asia Investment Capital, C&D Emerging Investment, Wuxi Capital Group, Yongxin Fangzhou, and other undisclosed investors. The round valued the company at $1.6 billion, reflecting strong investor confidence in the autonomous delivery vehicle market and Zelos's technology and market position.
Apr 2025Series BBlue Lake Capital (lead); CDH Investments (lead); Wuxi Capital; Baidu Ventures; Yongxin Capital; Xiamen C&D Emerging Industry Equity Investment; Asia Investment Capital; Unicorn Capital Partners$200M$1BZelos is a Beijing-based Chinese company pioneering L4 autonomous driving technology, specializing in RoboVans and urban delivery vehicles capable of operating in extreme temperatures from -30℃ to +55℃. Its products include the Z-series for express delivery and fresh produce, and the L-series with over 1.8 tonnes load capacity for urban distribution, applied in security patrol, sanitation, and retail. Zelos holds over 90% market share in autonomous urban delivery vehicle sales in China, with a nationwide network of 400 distributors, 200 service providers, operations in over 300 cities, and partnerships with clients like CMDC, Giti Tire, New Hope Group, and Tmall Auto Care. In 2025, it expanded globally to over 10 countries including Singapore, Malaysia, and Japan, planning over 1,000 overseas vehicle deliveries by year-end. Zelos conducted multiple tranches in its Series B financing in 2025, led or co-led by Blue Lake Capital and CDH Investments (CDH BAIFU), with investors including Asia Investment Capital, Baidu Ventures (BV), and others. The Series B3 tranche raised nearly USD 300 million total via USD 100 million close, while a later new round exceeded USD 300 million, pushing post-money valuation beyond USD 1 billion. and a Series B4 added USD 100 million from Ant Group, Blue Lake Capital, and Baidu Ventures, bringing cumulative Series B to USD 400 million—one of China's largest tech financings that year and a landmark in global L4 autonomous driving. Funds from these rounds support R&D in next-generation autonomous driving, product iteration, supply chain autonomy, global market expansion, and customer service upgrades to build an intelligent unmanned freight network. In 2025 Q1, Zelos achieved over 4x year-on-year growth in new order volume, demonstrating strong commercialization traction as the top sales leader in L4 unmanned urban delivery. Blue Lake Capital highlighted Zelos's evolution from early team and prototypes to nationwide and global scale in over three years, positioning it for accelerated industry growth.
Nov 2024Series BBlue Lake Capital (lead); CDH Investments (lead)$100M-Zelos is a leading global developer of autonomous urban delivery vehicles with full-stack Level 4 self-driving technology, operating via a 'turnkey vehicle sales' model that has achieved profitable operations—the first in the industry. On November 11, 2024, Zelos completed a $100 million Series B1 financing round co-led by Blue Lake Capital and CDH BAIFU (CDH Investments), with participation from existing shareholders, marking one of the largest investments in the autonomous driving sector that year. The company has deployed over 1,000 unmanned vehicles across more than 130 cities, completing over 100 million deliveries and enabling customers to reduce operational costs by 62% on average; it has accumulated 4 million kilometers of Level 4 driving with monthly additions of about 1 million kilometers, delivering several hundred vehicles per month. Zelos vehicles feature a dual Orin Drive computing platform with over 500 TOPS processing power, ZOE 2.0 architecture for sensor optimization, and end-to-end decision-making via pre-decision models handling complex scenarios like weather and intersections. This round follows prior investments by Blue Lake Capital, including the Angel Round in January 2022, positioning Zelos as an industry leader. Subsequent tranches extended the Series B: a Series B3 of $100M in April 2025 brought the total Series B to nearly $300M, with additional investors like Asia Investment Capital and Baidu Ventures. By end-2024, Zelos had over 10,000 active orders, cumulative deliveries exceeding 3,000 units to over 600 customers, over 90% market share in autonomous urban delivery sales, and 4x YoY order growth in 2025 Q1. Funds support next-gen R&D, supply chain, market expansion, and ecosystem building. Zelos ranks #1 in order volume, sales, and fleet size in unmanned urban delivery.
Feb 2024Series AMeituan (lead); Xianting Fund; Blue Lake Capital; Baidu Ventures; Xiamen C&D Emerging Industry Equity Investment; Seekdource; Unicorn Capital Partners$100M-Zelos Intelligent Technology Co., Ltd. (also referred to as Zelos Technology or Zelos (Suzhou) Intelligent Technology), founded in 2021, develops L4-level autonomous driving technology for urban logistics and delivery vehicles, including the Z5 series launched in Q4 2023 capable of carrying 1,000 kg over 180 km at 40 km/h. The company has R&D centers in Beijing and Silicon Valley, aims to commercialize L4 autonomous driving, and has expanded its lineup with models like Z2, Z5, Z8, and Z10 by June 2024 for various cargo and scenarios. Proceeds are allocated to R&D, supply chain enhancement, business model refinement, and team expansion, with deployments in nearly 50 cities including Singapore. On February 27, 2024, Zelos completed a $100 million Series A funding round led by Meituan, with participation from Baidu Ventures, Unicorn Capital Partners, Xianting Fund, Seekdource Investment Management, returning investors Blue Lake Capital and Xiamen C&D Emerging Industry Equity Investment Co., Ltd. By later reports, Zelos had deployed over 1,000 autonomous vehicles across 130 cities, delivering more than 100 million orders, achieving 62% average operational cost reductions for clients, and accumulating over 4 million km of L4 driving distance (growing 1 million km monthly). The company focuses on full in-house development of L4 algorithms, products, software, and hardware via intelligent, vehicle, and electrification platforms, launching five vehicle iterations within 18 months of founding. Subsequent rounds included a Series B1 ($100M led by others) and later Series B4 ($100M led by Ant Group with Blue Lake Capital and Baidu Ventures), bringing cumulative Series B to $400M. Zelos positions itself as a pioneer in L4 RoboVans for medium-to-large urban freight, with advanced ZOE 2.0 software (35ms response, mapless Occupancy Network), over 76% market share in RoboVan sales, 10,000+ vehicles delivered, 50M+ km mileage, and 1B+ deliveries by 2025, aiding 66% client cost cuts. In 2025, it pursued globalization to 10+ countries like Singapore, Malaysia, and Japan, planning 1,000+ overseas deliveries via technology localization and standards co-development.

Who has invested in Zelos?

12 investors have backed Zelos across its funding rounds, including Blue Lake Capital, Baidu Ventures, CDH Investments, Xiamen C&D Emerging Industry Equity Investment, Unicorn Capital Partners and Ant Group.

Lead investors include Ant Group, Blue Lake Capital, CDH Investments and Meituan.


Zelos Investors

Investors in Zelos by funding rounds participated
InvestorHQRoundsRoleFirst check
Blue Lake CapitalChinaChaoyang4LeadFeb 2024
Baidu VenturesChinaBeijing3ParticipantFeb 2024
Xiamen C&D Emerging Industry Equity InvestmentChinaXiamen2ParticipantFeb 2024
CDH InvestmentsHong KongHong Kong2LeadNov 2024
Unicorn Capital PartnersHong KongHong Kong2ParticipantFeb 2024
Xianting FundChinaChina1ParticipantFeb 2024
Ant GroupChinaHangzhou1LeadOct 2025
Wuxi CapitalChinaWuxi1ParticipantApr 2025
MeituanChinaBeijing1LeadFeb 2024
Yongxin CapitalChinaSuzhou1ParticipantApr 2025

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Zelos

Zelos has acquired 1 company to date.

Last acquisition by Zelos was on January 29th 2026. Zelos acquired Cainiao Logistics for $2B.


Latest Acquisitions by Zelos

Cainiao Logistics
Description
Cainiao Logistics is a Hangzhou-headquartered smart logistics network operated by Alibaba Group, managing over 100 warehouses and 3,000 delivery stations in China. It provides end-to-end supply chain services, including parcel sorting at hubs processing 1 million packages hourly and real-time tracking via its platform. Founded in 2013 by Shen Guojun, Cainiao serves e-commerce giants like Taobao and international expansion into Southeast Asia.
HQ CountryChina
HQ City
Hangzhou
Deal Date29 Jan 2026
Valuation$2B
EV/Revenue
EV/EBITDA

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Investments by Zelos

Zelos has invested in 3 companies to date.

Latest investment by Zelos was on May 31st 2026. Zelos invested in Genrobot.ai in their Seed round.


Latest Investments by Zelos

Genrobot.ai
Wuwen Zhike
Teemo
Description
Genrobot.ai is a developer of AI-powered robots. Genrobot.ai creates solutions for automation, data analysis, and task management.
Wuwen Zhike is an intelligent driving service provider with integrated solutions for AI data and simulation verification. The firm builds AI data infrastructure and accelerators.
Teemo is a Shenzhen-headquartered developer of intelligent skateboard chassis and autonomous driving systems for low- and medium-speed vehicles. The company produces electric skateboards with AI navigation, sensor fusion for obstacle avoidance, and modular platforms used in delivery robots and micromobility scooters. Teemo supplies components to urban logistics firms in China and Southeast Asia.
HQ CountryChinaChinaChina
HQ City
Beijing
Beijing
Jiaxing
Deal Date31 May 202623 Apr 20263 Jan 2025
RoundSeedSeedSeed
Raisedundisclosed$15M$14M
InvestorsAnt Group; Delian Capital; Shunwei Capital; Baidu Capital; DiDiYongke Angel Venture Capital; Zhejiang Venture Capital; Haibang Capital; CK Capital; Bridge Capital ChinaPuhua Capital; Blue Lake Capital
Valuationundisclosedundisclosed$52M
EV/Revenue
EV/EBITDA

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Zelos Competitors

Zelos competitors include listed companies like Infleqtion, Extreme Vision, Aurora Innovation and C3.ai, and private ones like Odyssey and Avride.

Public and private companies comparable to Zelos
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
OdysseyUnited StatesSan Francisco, CAPrivate--$1.4B-
InfleqtionUnited StatesUnited StatesPublicly listed$29M($52M)$3.1B64.5x
Extreme VisionChinaChinaPublicly listed$44M($6M)$1B11.6x
Aurora InnovationUnited StatesUnited StatesPublicly listed$3M($786M)$13B1040.1x
C3.aiUnited StatesUnited StatesPublicly listed$250M($484M)$1.7B4.5x
AvrideUnited StatesAustin, TXPrivate--$2.8B-

Zelos Public Comps

Zelos is still privately-owned, but its public comps include Haizhi, WeRide, Ncino, C3.ai, Wenge AI, TRS Information Technology, ROKAE Robotics, HL Mando, KPIT Technologies and Shenzhen Ysstech Info.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Haizhi$93M($30M)21.5x16.3x(67.1x)(440.4x)
WeRide$102M($257M)11.4x8.3x(4.5x)(5.0x)
Ncino$595M$65M4.3x4.0x39.0x15.8x
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Wenge AI$60M($20M)27.6x-(82.7x)-
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
ROKAE Robotics$78M($7M)20.7x-(221.3x)-
HL Mando$6.9B$486M0.4x0.4x5.7x5.0x

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Common questions about Zelos

When was Zelos founded?Zelos was founded in 2021.
Where is Zelos headquartered?Zelos is headquartered in Beijing, China.
Is Zelos publicly listed?No, Zelos is a private, VC-backed company.
What is Zelos' valuation?Zelos was last valued at $2B in its undisclosed-stage round in February 2026.
How much funding has Zelos raised?Zelos has raised $800M across 5 funding rounds.
What was Zelos' last funding round?Zelos' last funding round was a $300M undisclosed-stage round in February 2026.
Who are Zelos' investors?Zelos' investors include Blue Lake Capital, Baidu Ventures, Xiamen C&D Emerging Industry Equity Investment, CDH Investments, Unicorn Capital Partners, Xianting Fund, Ant Group, Wuxi Capital, Meituan, Yongxin Capital and 2 others.
Which companies are comparable to Zelos?Companies comparable to Zelos include Odyssey, Infleqtion, Extreme Vision, Aurora Innovation, C3.ai and Avride.
How many companies has Zelos acquired?Zelos has acquired 1 company, including Cainiao Logistics.
What was the largest acquisition by Zelos?The $2B acquisition of Cainiao Logistics in January 2026 is the largest acquisition Zelos has made to date.
How many companies has Zelos invested in?Zelos has invested in 3 companies, including Genrobot.ai, Wuwen Zhike and Teemo.
What was Zelos' last investment?In May 2026, Zelos invested in Genrobot.ai's seed round alongside Ant Group, Delian Capital, Shunwei Capital and 2 other investors.

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