Chinese self-driving startup reaches unicorn status

TuSimple said proceeds from the $95 million fundraising round will go towards research and development as the company pushes into the rapidly expanding US market .

TuSimple, a US-Chinese self-driving truck developer, has raised $95 million in a funding round led by tech giant Sina Corp, taking the startup's valuation above the $1 billion mark.

The fundraising round is TuSimple’s third. It raised $23 million in a Series B round led by Sina, Nvidia and ZP Capital, and $55 million in Series C funding. The cash will support the company’s ambitions to expand its fleet of trucks to 50 by June. It currently has 11.

TuSimple has also said that it intends to open a new transportation route from Arizona to Texas this quarter. The company is...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222