Sina Leads $95 Million Fundraising Round for U.S. Autonomous Truck Startup

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By Mo Yelin / Feb 14, 2019 04:50 PM / Business & Tech

Photo: VCG

Chinese tech giant Sina has led a $95 million round of fundraising for U.S.-based autonomous truck startup TuSimple.

The deal would bring TuSimple's total funding to $178 million and give it a valuation of $1 billion, it said in a statement on Wednesday.

Founded in 2015, TuSimple specializes in developing so-called “Level 4” fully-autonomous semi-trucks — which can drive themselves from depot-to-depot without human intervention.

TuSimple currently has 12 contracted customers and it said will use the new funds to grow the fleet to over 50 trucks by June.

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