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Inceptio Technology

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Inceptio Technology, Inc.
Company typePrivate
Founded2018; 6 years ago (2018)
FounderJulian Ma
Headquarters
ProductsAutonomous trucks
Websiteen.inceptio.ai

Inceptio Technology is a Chinese developer of autonomous driving technologies for heavy-duty trucks. The company partnered with two Chinese OEMs to mass-produce Level 3 autonomous trucks starting in late 2021, and its trucks are operated across a nationwide line-haul logistics network in China by customers including Budweiser, Nestle, JD Logistics, and Deppon Express. In 2022, Inceptio Technology received a permit for testing Level 4 driverless autonomous heavy-duty trucks on public roads.[1] The company is based in Shanghai, China and operates a Silicon Valley R&D center in Fremont, California.

History

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Inceptio Technology was founded in 2018 by Julian Ma.[2]

In April 2020, Inceptio Technology raised a $100 million Series A round from logistics firm GLP and fleet management platform G7.[3] Subsequently, the company raised a $120 million venture round led by Chinese electric vehicle battery maker CATL.[4]

In March 2021, the company released the Inceptio Autonomous Driving System "XUANYUAN", a comprehensive proprietary platform geared towards mass production.[5] The XUANYUAN system incorporates algorithms, Ultra Long Range Sensing (ULRS), and High Precision Lateral Sensing (HPLS) to identify vehicles in its vicinity and maneuver through traffic.[6] At the time, the company also announced it would commence mass production by the end of 2021.[5] In August 2021, Inceptio Technology raised $270 million in a Series B round led by JD Logistics, Meituan, and private equity firm PAG.[7] In February 2022, the company raised $188 million in a Series B+ round led by Sequoia Capital China and Legend Capital.[8]

In December 2021, Inceptio Technology completed its inaugural Level 4 (L4) automated truck road test, operating without a driver on a closed highway.[9] In June 2022, Inceptio Technology became the first company in China to receive a permit from the Chinese government to test L4 autonomous heavy-duty trucks on public roads.[1]

Inceptio's L3 Truck

As of 2023, the company claims that 600 trucks use their technology and that it expects the number to quadruple in 2024.[2] On August 31, 2023, the company announced their autonomous trucks have driven over 50 million kilometers without any accidents on China's highways.[10]

Inceptio Technology raised $678 million over six funding rounds, with the most recent being a Series B+ round on February 28, 2022.[2]

Partnerships and customers

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Industrial partners

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Inceptio Technology currently works with two OEMs to mass-produce Level 3 autonomous heavy-duty trucks: Dongfeng Commercial Vehicle and China National Heavy Duty Truck Group.[11] It uses chips manufactured by Horizon Robotics and Ambarella Inc.[12][13] Current customers include Jinxin Logistics,[14] Nestle,[15] Budweiser Brewing,[16] and Kuayue Express.[17]

Operations

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Inceptio Technology is headquartered in Shanghai, and the company has a Silicon Valley R&D center in Fremont, California.[2] It is led by founder & CEO Julian Ma.[2] Its chief technology officer is Ruigang Yang.[18]

In August 2023, Inceptio Technology announced it had achieved 50 million kilometers of commercial operations, and confirmed that its autonomous driving features are available on 100% of China’s National Trunk Highway System. Inceptio Technology claims that over its first 50 million kilometers of L3 autonomous driving, its partners have achieved labor cost savings of 20-50% and fuel savings of 2-10%.[19]

Based on Inceptio Technology’s first full year of commercial operations, China Pacific Insurance Company published a study claiming that Inceptio trucks had recorded zero accidents and registered just 0.1 collision warnings per 100 kilometers, which is 98% fewer than the average for human-operated trucks. Inceptio Technology also published a study claiming human safety operators in Inceptio trucks experience 35% less physical fatigue and 11% less psychological fatigue compared to conventional truck drivers.[19]

References

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  1. ^ a b "Inceptio Technology became the first company in China to receive the driverless public road-testing permit for L4 autonomous driving heavy-duty trucks". www.prnewswire.com. Retrieved 2023-09-06.
  2. ^ a b c d e "Inceptio sees big jump in China sales of driver-assist truck tech, plans overseas foray". Reuters. 2023-08-29. Retrieved 2023-08-29.
  3. ^ "Chinese self-driving truck startup Inceptio raises $100 mln -sources". Reuters. 2020-04-27. Retrieved 2023-10-09.
  4. ^ "Chinese autonomous truck startup Inceptio raises $120 million from CATL, others". Reuters. 2020-11-08. Retrieved 2023-10-09.
  5. ^ a b "Inceptio Technology Released Truck Autonomous Driving System "XUANYUAN", L3 Trucks Will Start Mass Production by the End of 2021". www.prnewswire.com. Retrieved 2023-09-06.
  6. ^ "TECHNOLOGY". en.inceptio.ai. Retrieved 2023-09-06.
  7. ^ "China's autonomous truck startup Inceptio raises $270m in Series B". DealStreetAsia. Retrieved 2023-10-09.
  8. ^ "Inceptio Technology completes US$188 million in financing, led by Sequoia Capital China and Legend Capital". Bloomberg.com. 2022-03-01. Retrieved 2023-10-09.
  9. ^ "Inceptio Technology completed the driverless road test of the L4 autonomous truck". en.inceptio.ai. 2021-12-23. Retrieved 2023-10-09.
  10. ^ "Inceptio Technology Announces New Orders for Heavy-duty Autonomous Trucks Equipped with its Truck Navigate-on-Autopilot Feature". www.prnewswire.com. Retrieved 2023-09-06.
  11. ^ "PRODUCT". en.inceptio.ai. Retrieved 2023-10-09.
  12. ^ "Inceptio Technology and Horizon Robotics reached a new cooperation in the application of Journey 5 chips into Computing Platform Gen-2 of Inceptio Xuanyuan System". en.inceptio.ai. Retrieved 2023-10-09.
  13. ^ Staff, The Trucker News (2022-06-22). "Inceptio Technology partners with Ambarella to deliver Level 3 automated driving". TheTrucker.com. Retrieved 2023-09-21.
  14. ^ "First PO Signed｜Inceptio And Jinxin Logistics Launched The Intelligent Truck Business". en.inceptio.ai. Retrieved 2023-10-09.
  15. ^ "ECR Innovation Case Study | Nestle & Inceptio Technology: Applying Autonomous Driving Technology For More Comfortable And Safer Green Transportation". en.inceptio.ai. Retrieved 2023-10-09.
  16. ^ "Inceptio Technology Achieved Strategic Partnership with Budweiser to Enable Green Logistics with Autonomous Driving". en.inceptio.ai. Retrieved 2023-10-09.
  17. ^ "Inceptio Technology Completed the Delivery of the First Batch of Autonomous Driving Heavy-Duty Trucks to Kuayue Express". en.inceptio.ai. Retrieved 2023-10-09.
  18. ^ "Autonomous Trucking Startup Inceptio Technologies Raises $270 Million in Latest Series B Round". www.futurecar.com. Retrieved 2023-09-06.
  19. ^ a b "Inceptio Technology Announces New Orders for Heavy-duty Autonomous Trucks Equipped with its Truck Navigate-on-Autopilot Feature". FinanzNachrichten.de (in German). Retrieved 2023-10-09.
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