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Autonomous truck startup TuSimple now valued at $1 billion

Self-driving tractor-trailer start-up TuSimple achieves unicorn status in funding round that values it at $1 billion

PortandTerminal.com, February 23, 2019

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 in an article published by the Wall Street Journal. The latest round of funding values the start-up at $1 billion dollars.

TuSimple 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.

The money raised will help the company expand its fleet of test vehicles and fund joint production programs with truck manufacturers.

Based in San Diego and with an engineering facility and truck depot in Tucson, Arizona, TuSimple has been hauling revenue-generating loads since last year. The company also has offices in China. In the United States, the company’s focus is solely on long-haul trucking whereas in China, the technology is used for drayage operations, hauling cargo at ports.

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