Plus.ai completes D round of USD200 million financing

Plus.ai completes D round of USD200 million financing

On February 12, the autonomous driving startup Plus.ai recently completed a D round of financing with an amount of US$200 million. Investors include Guotai Junan International, CITIC Private Equity Funds Management, China Wanxiang and Full Truck Alliance.

Plus.ai said it will be used to accelerate the global commercial placement of autonomous driving heavy trucks.

Liu Wanqian, co-founder and CEO of Plus.ai, said that truck-related safety accidents and the increasing shortage of transportation capacity have become pain points in the society and for our economy, therefore the application of autonomous driving technology in the logistics industry is the trend of the future.

Public information shows that Plus.ai was established in 2016 and has R&D centers in Beijing, Shanghai, Suzhou and other places in China.

Up to now, Plus.ai has completed 5 rounds of financings, and the total amount in the past year has exceeded 300 million US dollars.

In December 2019, Plus.ai used the L4 self-driving truck for the first time to provide dairy giant Land O’Lakes with commercial freight services across the American continent.

According to its plan, Plus.ai will build a commercial closed-loop of industry ecosystem and cooperate with heavy truck manufacturer FAW Jiefang and Full Truck Alliance, China’s largest capacity matching platform (or China’s Uber for trucks), to build an industry chain trio for autonomous heavy trucks combining “OEM + autonomous driving technology solution provider + scenario application provider.

Plus.ai will establish a joint venture with FAW Jiefang to release the world’s first mass-produced self-driving heavy truck.

At the same time, it will also initiate autonomous driving system testing and safety certification conducted by an independent third-party organization, which uses the safety-certified BlackBerry QNX operating system for autonomous driving heavy trucks, and participate in autonomous driving standardization and vehicle-road collaborative practice in related high-speed logistics scenarios.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/02/22/plus-ai-completes-d-round-of-usd200-million-financing/.

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