Sky9 Capital, a venture capital firm investing in Chinese start-ups, has completed the flotation of its portfolio company TuSimple on the Nasdaq stock exchange today under the ticker symbol ‘TSP’ at a market capitalisation of USD8.49 billion
TuSimple is the global leader in autonomous trucking and is revolutionising the USD4 trillion global truck freight market. Founded in 2015, it has developed a fully integrated software and hardware solution enabling what is believed to be the world’s most advanced Level 4 driver-out autonomous semi-truck technology.
Through its innovative technology, TuSimple is able to address some of the trucking industry’s most significant challenges, such as a shortage of semi-truck drivers, accidents caused by human error, as well as reducing carbon footprint and helping the environment by providing a more fuel-efficient solution.
A reliable autonomous solution at scale will provide the most viable solution to guarantee freight capacity. Having provided services for the US Postal Service and global shipping firm UPS, TuSimple is geared up to be able to provide this solution universally.
Source: Private Equity Wire
