Zelos Secures $100 Million Series B1 Funding Led by Blue Lake Capital

Deal News | Nov 11, 2024 | Blue Lake Capital

Zelos Secures $100 Million Series B1 Funding Led by Blue Lake Capital

Zelos, a leading innovator in autonomous urban delivery and a portfolio company of Blue Lake Capital, has completed a significant $100 million Series B1 funding round. This round, co-led by Blue Lake Capital and CDH BAIFU, is one of the largest investments in the autonomous driving sector over the past year. The funds will aid Zelos in advancing its Level 4 self-driving technology, which it has successfully commercialized for urban delivery through the sales of autonomous vehicles. The company has developed an array of advanced platforms, enhancing both hardware and software capabilities, and achieving notable milestones in the automotive industry. With over 1,000 unmanned vehicles in operation across more than 130 cities, Zelos has accumulated over 4 million kilometers of autonomous driving operations. The firm is also making strides internationally, securing its first unmanned vehicle license in Singapore and expanding into markets like Malaysia, Japan, and the Middle East. The ongoing support from Blue Lake Capital, which has invested in Zelos since its inception, underscores the confidence in Zelos' potential to lead the smart driving sector and contribute globally to autonomous urban delivery.

Sectors

  • Autonomous Driving Technology
  • Logistics and Urban Delivery

Geography

  • Singapore – Zelos has secured an unmanned logistics vehicle license in Singapore, marking significant progress in its international expansion efforts.
  • Malaysia – Zelos is expanding into the Malaysian market as part of its global strategy for autonomous urban delivery.
  • Middle East – Zelos has entered the Middle Eastern market, contributing to the international spread of its autonomous delivery technology.
  • Japan – Zelos is broadening its reach into the Japanese market, demonstrating its commitment to internationalizing its technology.

Industry

  • Autonomous Driving Technology – Zelos is a key player in the autonomous driving technology sector, focusing on Level 4 self-driving solutions for urban delivery, which positions it at the forefront of innovation in this rapidly advancing industry.
  • Logistics and Urban Delivery – As an operator of unmanned urban delivery vehicles, Zelos is an influential entity within the logistics sector, driving innovation with its autonomous solutions across multiple cities worldwide.

Financials

  • $100 Million – The total funding amount secured by Zelos in its Series B1 round, led by Blue Lake Capital and CDH BAIFU.

Participants

NameRoleTypeDescription
ZelosTarget CompanyCompanyA leading developer of autonomous urban delivery products, specializing in Level 4 self-driving technology.
Blue Lake CapitalLead InvestorCompanyA private equity firm that led the Series B1 funding round for Zelos, previously involved in multiple funding stages for the company.
CDH BAIFUCo-Lead InvestorCompanyA participant in the Series B1 funding round for Zelos, co-leading the investment alongside Blue Lake Capital.
Haitao WeiPartner at Blue Lake CapitalPersonPartner at Blue Lake Capital, expressing strong support and confidence in Zelos' potential in the smart driving sector.
Singapores Land Transport AuthorityGovernmentGovernmentIssued the first unmanned logistics vehicle license to Zelos for operations in Singapore.