Thursday, August 10, 2017
Tusimple, a Beijing-based startup focused on developing autonomous trucks, has disclosed that Nvidia will make a strategic investment to take a 3% stake in the company. Nvidia's investment is part of a a Series B financing round, Tusimple indicated.
Tusimple has plans to raise more than US$30 million through this financing round in the fourth quarter of 2017. The company previously completed its Series A financing round in early 2016 and raised a total of CNY50 million (US$7.5 million).
Nvidia's investment in Tusimple is part of the GPU vendor's GPU Ventures program, industry observers believe.
According to Nvidia, its GPU Ventures program is aimed at supporting startups across the globe as they build their businesses around GPU-based platforms. Nvidia is targeting startups that are aligned with its strategy in fields as diverse as artificial intelligence (AI) and life sciences to automotive, robotics and virtual reality (VR). The GPU vendor has invested in more than 25 companies, building relationships that span strategy, technology, sales and marketing, development and distribution, and beyond.
Momenta, another China-based self-driving startup, has also drawn investments from an international vendor. Mercedes-Benz parent Daimler has reportedly participated in a US$46 million funding round for Momenta.
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