Mexican Media Brands
Autonomous-Truck Company Raises $120 Million
TuSimple Inc., a San Diego-based startup that supplies autonomous driving technology for commercial truck applications, has raised $120 million in its latest funding round.
#economics
Share
TuSimple Inc., a San Diego-based startup that supplies autonomous driving technology for commercial truck applications, says it has raised $120 million in its latest funding round.
With the new investment, TuSimple has raised nearly $300 million since it was founded in 2015. The company plans to use the funds to further develop its technology and expand testing.
United Parcel Service Inc., which began testing TuSimple’s technology on Arizona highways this year, acquired an unspecified minority stake in the startup last month. TuSimple also is working with Amazon.com on similar tests and conducted a two-week pilot program with the U.S. Postal Service in May.
Among the new participants in the latest funding are South Korean supplier Mando, CDH Investments and Lavender Hill Capital. Other investors include Sina, Nvidia, Composite Capital Management and ZP Capital.
TuSimple also operates a fleet of some 50 Class-8 trucks that are capable of Level 4 autonomy. Using an eight-camera array and other sensors, the trucks can detect vehicles, pedestrians and other obstacles up to 1,000 meters (3,280 ft) away.
RELATED CONTENT
-
Magna Advances Seating Configurations
Magna International is focusing on electrification, autonomy and smart mobility. This is taking the form of things ranging from an electrified system for rear axles (eDrive 1.0) to a collaborative arrangement with Lyft, which includes the co-development and manufacture of self-driving systems.
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
-
Ford and Autonomy
Ford’s announcement last week in Silicon Valley came as something of a surprise.
