Sina-backed TuSimple to Close USD 200 Million Series D Round of Funding
China’s robo-trucking company TuSimple sets to close its USD 200 million Series D round funding, reported by China’s auto media Chezhi on June 20.
China’s robo-trucking company TuSimple (图森未来) sets to close its USD 200 million Series D round funding, reported by China’s auto media Chezhi on June 20. The transaction was led by Chinese technology and media firm Sina Corp. and CDH Investment, which put USD 100 million in the company, respectively. The former already invested USD 95 million, as TuSimple announced on Feb 13.
With the reportedly latest infusion, the Beijing-based company has received a total amount of USD 305 million (rounds with undisclosed amount of money excluded) from its investors since its inception. Sina participated in three rounds of financing and keeps on adding more money as TuSimple's valuation soaring.
In 2017, AI chip maker NVIDIA infused millions of dollars and undisclosed money in TuSimple, in April and August. Back in May, Amazon tried to acquire TuSimple. The deal, however, seems to fell down as TuSimple received this round of money.
With an aim to push its autonomous driving products into commercialization, the company has cooperated with the United States Postal Service (USPS) to start a pilot program that marks its milestone to foray beyond the Arizona area. The company runs three to five commercial trips a day on three different routes in Arizona, serving 12 contracted clients, the company claims.
Logistics-focused autonomous driving Chinese startups saw a harvest month in June. Tuesday, GLP-backed Inceptio Technology (赢彻科技) announced it has sold hundreds of intelligent trucks to Yimidida (壹米滴答), a leading China’s LTL (Less than Truckload) firm.