White Rhino raises $100M Series C for L4 autonomous delivery

On October 12, 2026, 36Kr reported exclusively that White Rhino, an L4 autonomous driving company, had closed a $100 million Series C round. The round was led by Hidden Hill Capital, with Xiangtan State-owned Assets, Shenzhen Heavy Investment, Hunan Caixin, South Korea's Woori Financial Group and Bozheng Capital participating. It is the largest single financing in the company's history. The proceeds will focus on iterating L4 end-to-end technology and physical AI capabilities, and on expanding its urban operating network.

White Rhino was founded in April 2019 by Zhu Lei and Xia Tian, both former members of Baidu's autonomous driving team. The company provides a full-stack unmanned delivery solution and has achieved regular operation of its autonomous vehicles. Since its founding, it has raised more than eight rounds of funding.

White Rhino CFO Yu Yang told 36Kr that in each round the company has insisted on bringing in shareholders that match its stage of development. The report describes the round as building a combined "industry + government + finance" capital structure, in which investors with diverse backgrounds bring not only money but also resources spanning use cases, road rights, financial services and global expansion. Lead investor Hidden Hill Capital, part of GLP, has invested in White Rhino twice this year. GLP's global industrial resources provide the company with steady business orders and open a channel for overseas expansion, while the simultaneous investment from South Korea's Woori Financial Group is described as corroborating that assessment. Public information currently stops at the completion of the round and the stated use of funds.