Zelos Completes Nearly USD300 Million Series B Financing, with Blue Lake Capital as a Lead Investor

Recently, Zelos completed its USD100 million Series B3 financing, marking the full close of its Series B financing round, bringing the total amount raised in Series B to nearly USD300 million. The Series B financing was co-led by Blue Lake Capital and CDH BAIFU, with Asia Investment Capital and Baidu Ventures among the participating investors. The funds will be allocated to next-generation product R&D, supply chain development and global market expansion. As a leading L4 urban delivery autonomous driving company, Zelos has built its core competitiveness through its full-stack in-house R&D technology system and large-scale commercialization capabilities. Its products are capable of stable operation in extreme environments from -30℃ to +55℃, forming a Z-series line of four vehicle models suitable for diverse scenarios such as express delivery and fresh produce.

In terms of core technology, Zelos is the first in the industry to achieve application of automotive-grade solid-state radar in L4 autonomous driving, with independently controllable hardware and dual Orin computing platform delivering 508 TOPS of processing power. The vehicles are equipped with four types of sensors, including LiDAR. The software system’s inference latency has been reduced to 50 milliseconds, and power consumption lowered to 150 watts. Through a distributed simulation platform, the algorithm iteration efficiency has been improved by 2,000 times. When it comes to commercialization, Zelos pioneered the “turnkey vehicle sales + full lifecycle operation and maintenance” model, reducing operational costs by over 50%. Domestically, it serves clients such as China Post and Sinopharm CMDC. It has also been expanding its presence to overseas regions including Singapore and the Middle East, having obtained the first unmanned logistics vehicle license in Singapore and collaborating with DHL on a pilot project in Dubai.

As of the end of 2024, Zelos had over 10,000 active orders, with cumulative deliveries exceeding 3,000 units, serving over 600 customers. All key performance indicators surpassed expectations. Zelos has become an industry leader, ranking number one in order volume, sales volume and operational fleet size in the unmanned urban delivery sector. With over 90% market share in autonomous urban delivery vehicle sales, it holds the top position in the industry and has successfully fueled rapid growth in the overall unmanned urban delivery market. In 2025Q1, Zelos continued its high-growth trajectory, with its new order volume increasing by over 4 times year-on-year.

As of today, Zelos unmanned vehicles are in regular operation in over 200 cities across 29 provinces, municipalities, and autonomous regions in China. Its total L4 operational mileage has exceeded 12 million kilometers, positioning it as an industry leader. Zelos has established a network of hundreds of dealers and nearly 300 service providers, 45 of which were converted from customers. Benefiting from China’s “commercialization of highly autonomous driving by 2025” policy, the global market for unmanned delivery vehicles is projected to reach tens of billions in USD by 2027, with China’s domestic market expected to account for over 40% of the global share.

Following this financing round, Zelos plans to focus on next-generation product R&D, establishing its supply chain, expanding domestic and international markets, developing urban operational networks and building an industry ecosystem alliance. These strategic initiatives aim to further solidify its leading position in the autonomous urban delivery sector.

Blue Lake Capital stated: “As the longest-standing investment partner of Zelos, Blue Lake Capital has witnessed its team grow from a handful of members to hundreds, products evolve from concept to on-road deployment, and its customer base expand from Suzhou to across the nation and then to the world. In just over three years, Zelos has completed the validation of its product and business model from scratch. Currently, Zelos has become the company with the largest sales volume in the L4 unmanned urban delivery sector. With its outstanding performance in cost, efficiency and safety, it is propelling the entire L4 unmanned urban delivery industry onto an accelerated growth trajectory. We believe that the Zelos team, in the upcoming rapid-growth phase from 1 to 100, will continue to enhance efficiency and create positive value for the entire industry.”

In recent years, Blue Lake Capital has been deeply involved in the autonomous driving and new energy vehicle industry chains. Blue Lake Capital was the lead investor in Zelos’ Angel Round of financing in January 2022 and has continued to increase its investment in subsequent rounds.