China’s Neolix Is Said to Near $500 Million in Funding, Eyes IPO

Neolix Technologies Co. is close to raising $500 million in fresh funding, people familiar with the matter said, a move that will help the Chinese manufacturer of unmanned delivery vehicles accelerate production and global expansion ahead of a potential initial public offering.

Neolix could announce the private fundraising round as soon as Thursday, the people said, asking not to be identified because the plans are private. Both local and international investors are likely to participate in the pre-IPO round, the people said.