TuSimple announces extended Series D
Gunderson Dettmer client and autonomous driving company TuSimple announced its $120 million Series D financing. These fresh funds are part of an extended Series D round that has reached a total of $215 million. The new round includes investor UPS, CDH Investments and Mando Corporation and the Series D round was led by SINA.
The new funds will be used to expand long haul service for fleets and develop commercial self-driving truck with OEMs and Tier 1 suppliers.
In the announcement of the funding CFO of TuSimple Cheng Lu said, “It’s highly gratifying to see such strong interest in TuSimple from investors and industry leaders alike, and we are grateful for the support of our committed investors. With over 50 trucks on the road worldwide and more than 18 contracted customers, we are excited about the momentum the company has achieved in four short years.”
The Gunderson Dettmer deal team was led by Zhen Liu and included Huihui Cai, Mabel Ding and David Cao.