Driverless Truck Technology Developer TuSimple Wins USD 55 Mln Series C
36kr.com, 11/21/17
Beijing-based driverless truck technology developer Tusen Weilai Technology (TuSimple) has announced completion of USD 55 mln in Series C funding led by Hong Kong-based Composite Capital, with participation from Chinese internet company Sina (Nasdaq: SINA) and Zhiping Capital.
TuSimple is an artificial intelligence company that specializes in driverless cargo truck technology development and applications, with research centers in both China and the U.S. In June this year, TuSimple obtained a road testing permit from the state of California and subsequently completed an L4 autonomous driving long-range interstate trip from California to Arizona.
Recently, TuSimple also completed an L4 cargo truck demonstration in Shanghai. The truck used 10 video cameras and multiple millimeter-wave radar sensors. Along with TuSimple's core AI algorithm, the truck is capable of autonomous driving features such as perception of surroundings, GPS navigation, and decision-making.
Editor's Note: For more information on this topic, please see Nvidia Invests in Chinese Driverless Car Technology Developer TuSimple, MD 8/04/17 issue.
Keywords: Composite Capital VC M&A Tusen Weilai hardware funding Sina Series C Zhiping Capital artificial intelligence TuSimple automobile driverless vehicle
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