Sky9 Capital portfolio company TuSimple is first autonomous trucking firm to IPO, listing on Nasdaq at $8.49 billion market capitalization
Shanghai, April 15, 2021 – Sky9 Capital, a venture capital firm investing in Chinese start-ups, announces the flotation of its portfolio company TuSimple on the Nasdaq stock exchange today under the ticker symbol ‘TSP’ at a market capitalization of $8.49 billion.
Ron Cao, Sky9 Capital Founding Partner: “TuSimple is the most exciting autonomous driving company in the market today with its world-class L4 technology and a complete set of software and hardware solutions. We are delighted to have invested in this groundbreaking business and to partner with TuSimple’s exceptional team. We are looking forward to watching the company’s development as it continues to advance its technology platform.”
TuSimple is the global leader in autonomous trucking and is revolutionizing the $4 trillion global truck freight market. Founded in 2015, it has developed a fully integrated software and hardware solution enabling what is believed to be the world’s most advanced Level 4 driver-out autonomous semi-truck technology.
Through its innovative technology, TuSimple is able to address some of the trucking industry’s most significant challenges, such as a shortage of semi-truck drivers, accidents caused by human error, as well as reducing carbon footprint and helping the environment by providing a more fuel-efficient solution.
A reliable autonomous solution at scale will provide the most viable solution to guarantee freight capacity. Having provided services for the US Postal Service and global shipping firm UPS, TuSimple is geared up to be able to provide this solution universally.
Features of TuSimple’s proprietary semi-truck specific technology include a 1,000-meter perception range, a 35-second planning horizon, high-definition maps with accuracy within five centimeters, and an integrated L4 autonomous semi-truck design comprising a fully redundant sensor suite and components.
The IPO of TuSimple occurs just two weeks after the $2.3bn Nasdaq listing of another Sky9 Capital portfolio company, Smart Share Global, which is a consumer tech business providing an innovative mobile device charging network across China under the brand Energy Monster.