INSUBCONTINENT EXCLUSIVE:
microblogging site Weibo, bringing the total haul to $215 million as it seeks to expand.The company, which launched in 2015 and has
operations in China, San Diego and Tucson, Ariz., hit unicorn status in February when it raised $95 million in the Series D round with a
post-money valuation of $1.095 billion
This additional funding includes investment from UPS, which announced in August that it had taken a minority stake in TuSimple just months
New participants in the round include CDH Investments, Lavender Capital and Tier 1 supplier Mando Corporation.The company plans to use the
funds to continue developing its autonomous vehicle technology and expand its long-haul routes in Arizona and Texas.TuSimple is working on a
TuSimple is developing a Level 4 system, a designation by the SAE that means the vehicle takes over all of the driving in certain
another segment in Shanghai.The company has more than 50 trucks and 18 contracted customers, according to TuSimple CFO Cheng Lu.One of those
customers is UPS, which initially tapped TuSimple to help it better understand how Level 4 autonomous trucking might function within its
That relationship expanded in May when the companies began using self-driving tractor trailers to carry freight on a route between Tucson
and Phoenix to test if service and efficiency in the UPS network can be improved
UPS and TuSimple conduct daily testing between Phoenix and Tucson.
