TuSimple Raises $95M in Series D Funding, at $1B Valuation

TuSimple, Global Self-Driving Truck CompanyTuSimple, a San Diego, CA-based global self-driving truck company, raised $95m in Series D funding.

The round, which brought total funding to date to $178m and was based on a pre-money valuation of $1 billion, was led by Sina Corp. (NASDAQ: SINA), with participation from Composite Capital, a Hong Kong-based investment firm focused on consumer, technology and transportation companies globally.

The company intends to use then funds to grow its commercial autonomous fleet, which makes daily fully-autonomous deliveries in Arizona, and soon in Texas, for large shippers and fleets, and conduct joint production programs with its OEM, Tier 1, and sensor partners in order to achieve full commercialization.

Founded in 2015, TuSimple is a global company operating self-driving trucks out of Tucson, Arizona. The company is developing a commercial-ready Level 4 (SAE) fully-autonomous driving solution for the logistics industry. Its fully-autonomous semi-trucks are capable of driving from depot-to-depot without human intervention. To support Level 4 driving on complex highway and local streets, TuSimple has developed an innovative camera-centric perception solution that allows trucks to see 1,000 meters ahead of the vehicle, essential to operate safely at highway speeds — rain or shine.

The company currently has 12 contracted customers and is making three to five delivery trips per day.

FinSMEs

13/02/2019

Join the discussion