Self-Driving Truck Tech Startup TuSimple Raises $95 Million in New Funding
By Jennifer Smith | Feb. 13, 2019 6:00 a.m. ET
Autonomous trucking firm TuSimple has raised $95 million to expand its fleet of self-driving big rigs and fund joint product development with truck manufacturers and equipment makers, the company said Wednesday.
TuSimple’s Series D funding round was led by Chinese firm Sina Corp., known for its Weibo microblogging platform. Hong Kong-based investment firm Composite Capital Management also participated in the round, which brings the company’s total funding to $178 million, with a post-funding valuation of $1.095 billion.
The company, which has offices in the U.S. and China, is developing technology aimed at making long-haul trucking cheaper and more efficient, in part by allowing semi-trucks to run beyond the 11-hour daily operating limit in place for human drivers…
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