Driverless truck tech firm TuSimple reaches $1B

Wednesday, 13. February 2019 13:08

Sina Corp. led a $95 million D funding round announced on Wednesday by TuSimple Llc. The startup, which develops solutions for autonomous driving of heavy-duty vehicles and operates a fleet of 11 trucks, declared it reached unicorn status, meaning its valuation hit $1 billion. It revealed the intention to increase the number to 50 units, adding it would soon expand trips to Texas.

Currently, the tech firm headquartered in Beijing dispatches three to five shipments for a dozen clients within Arizona, where it has a production facility since last year. TuSimple, also backed by Nvidia Corp., runs trucks built by Peterbilt Motors Co., controlled by Paccar Inc. It has a partnership with Shaanxi Automobile Group Co. Ltd. of China, where it has autonomous terminal tractors in a port project. The selfdriving technology has a level 4, meaning almost fully autonomous operations. TuSimple also has a research and development base in San Diego.

Funding so far reached $178 million, according to the firm, which cooperates with Navistar International Corp. and Cummins Inc. as well.

Related Links: Navistar International CorporationNVIDIA CorporationCummins Inc.PACCAR Inc.
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