TuSimple Holdings Inc said on Thursday it had raised more than $1 billion through an initial public offering (IPO), valuing the self-driving truck startup at nearly $8.5 billion.

The San Diego, California-based company sold around 27 million shares in its IPO, while some stockholders sold about 6.8 million shares priced at $40 apiece.

The company is the latest player in the self-driving technology and manufacturing market to take the public market route after a string of lidar sensor manufacturers, including Luminar Technologies Inc and Velodyne Lidar Inc, went public through mergers with blank-check firms last year.

Read more at Reuters

By Sohini Podder and Vinay Dwivedi

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