Self-driving technology provider DeepRoute is closing a round of $300 million, less than a month after another massive investment.
The China-based company, which was founded just over two years ago, secured the Series B round from lead investor Alibaba Group.
The Chinese e-commerce giant led an earlier Series A round in August this year worth $200 million.
DeepRoute has now secured $550 million in financial backing. A round of $50 million was secured in September 2019.
Other investors in the latest round include previous backers Fosun RZ Capital, Yunqi Partners and Glory Ventures.
DeepRoute says the capital will be used to expand its robotaxi fleet to 150 by the end of 2021 and develop the company's research and development of freight provision and urban logistics.
Autonomous vehicles developed by DeepRoute are currently operating in Wuhan and Shenzhen, with over 1.2 million miles driven to date.
It has also received a permit from regulators in California to deploy vehicles in the U.S. state.
Recent developments in the autonomous vehicle sector have included a $500 million investment round for Momenta, a deal between Lyft and Ford to scale-up ride-hailing services and the launch of similar services by Sixt.