Shanghai Zaofu Intelligent Technology Co., Ltd., the autonomous-driving business associated with Hello, announced a financing round of about US$100 million on September 16. According to The Paper, the round was led by the Shanghai State-owned Capital Investment Pioneer Fund, with participation from Minjintou and Genesis Partners Capital, and a post-money valuation close to US$3 billion.
The company focuses on L4 autonomous-driving research and development, safety applications, and commercialization. It was founded in June 2025 by Hello, Ant Group, and CATL, and it previously received a strategic investment from Alibaba Group. In its business branding, the company uses Hello Robotaxi.
Financing and valuation
The Paper reports that Shanghai Zaofu Intelligent announced about US$100 million in new financing on September 16. The lead investor named in that report is the Shanghai State-owned Capital Investment Pioneer Fund. Minjintou and Genesis Partners Capital are identified as participating investors. The Paper also reports that the post-money valuation tied to this financing is close to US$3 billion. These figures are presented with the qualifiers about and close to and are not described as precise amounts.
The composition of the investor group, as reported by The Paper, places a state-owned capital fund in the lead role alongside additional institutional participants. The account notes the round size at about US$100 million and characterizes the valuation as close to US$3 billion. The timing of the announcement is stated as September 16, and the financing is presented as part of the company’s ongoing efforts in L4 autonomous-driving development and related activities.
Additional coverage of the financing appears in National Business Daily and 7ITS. Those outlets carried reports on the same development, referencing the investment amount, participating investors, and the nature of the company’s activities.
Founding and focus
Shanghai Zaofu Intelligent was founded in June 2025 by Hello, Ant Group, and CATL. The company states that it focuses on L4 autonomous-driving R&D, safety applications, and commercialization. Its business branding as Hello Robotaxi situates the company’s work within a defined application area for autonomous driving at the L4 level. In prior corporate activity, the company received a strategic investment from Alibaba Group.
The described focus encompasses research and development for autonomous systems at the L4 level, the development and application of safety processes and technologies, and steps toward commercialization. The founding shareholder group of Hello, Ant Group, and CATL is identified, and the historical strategic investment from Alibaba Group is noted. These points outline the company’s origin, its stated priorities, and a record of prior external capital engagement.
Readers seeking broader context within adjacent areas of autonomy and intelligent systems can review EastFrontier’s related coverage and related coverage, which present additional reporting on activity in robotics and robotaxi operations.
Planned use of proceeds
The Paper reports that proceeds from the financing will go toward R&D, including a 10,000-card computing platform, end-to-end AI large-model iteration, and the buildout of a high-quality data supply chain. These planned allocations are described in the reporting as the intended uses of capital following the September 16 announcement.
The 10,000-card computing platform is cited as a target within the company’s R&D direction. It is not stated that such a platform is operating now. The descriptions presented by The Paper frame the computing infrastructure objective as part of the company’s development roadmap. Alongside computing capacity, end-to-end AI large-model iteration is identified as a planned area of investment. This element is presented as a comprehensive approach to model development that covers the iterative process across the system. The emphasis on a high-quality data supply chain is also listed, indicating a focus on data sourcing, processing, and readiness to support L4 research, safety applications, and commercialization activities.
Within this structure, the announcement segments funds across infrastructure, algorithmic iteration, and data pipelines. The Paper’s account links these uses to the company’s L4 emphasis and its stated goals for safety and commercialization. The language in the report maintains the scope at R&D and related preparations and does not specify operational deployment timelines or additional programmatic details beyond the cited categories.
The financing, investor composition, and valuation characterization are all presented as reported information connected to the September 16 disclosure. The company’s founding in June 2025 by Hello, Ant Group, and CATL sets the corporate context. The prior strategic investment from Alibaba Group is part of the company’s funding background. The branding as Hello Robotaxi identifies the business presence under which the company communicates its L4 efforts.
The description of intended capital use emphasizes three elements: planned computing scale, model iteration processes, and data pipeline quality. The Paper’s reporting ties these to the R&D thrust and to the broader objectives of safety applications and commercialization that the company states it pursues. The scope of the financing, at about US$100 million, and the post-money valuation, close to US$3 billion, frame the scale at which these plans are being positioned in the public reports.
In summary, the September 16 announcement sets out the amount of new funds, the lead and participating investors, the valuation characterization, the founding background, the branding, and the planned allocations for R&D. The details cited above reflect the information reported by The Paper, with additional coverage noted from National Business Daily and 7ITS.