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  • Self-Driving Truck Company Plus Upsizes Recent Fundraising to $420 Million

    March 31, 2021

    PRESS RELEASE – Plus (formerly Plus.ai), a leading provider of self-driving truck technology, today announced it has added $220 million in new financing co-led by FountainVest Partners and ClearVue Partners, with participation from Quanta Computer Inc., Phi Zoyi Capital, and Millennium Technology Value Partners. The company’s existing investors including Sequoia, SAIC Capital, and Full Truck Alliance (FTA) also participated. This investment is an extension of the $200 million round announced last month, which was led by CPE and Guotai Junan International.

    The additional funds will enable Plus to further expand its global operations and commercial deployment plans across the U.S., China, Europe and other parts of Asia for its driver-in autonomous driving solution, PlusDrive. The company is in the final stages of certifying PlusDrive for commercial operation in China. Mass production for the PlusDrive-powered automated truck jointly developed with FAW, the world’s largest heavy truck maker, is set to start this summer. Plus is working with some of the largest fleets in the U.S. and China, such as SF Express, China’s largest logistics company, to pilot commercial freight operations. Truck makers and fleet partners recognize the multitude of benefits delivered by PlusDrive in terms of improved safety, efficiency, comfort, and sustainability.

    “Plus is the only autonomous trucking company to start mass production of its autonomous driving system this year and this investment will help fuel plans to bring our automated trucks to market,” said David Liu, CEO and Co-founder, of Plus. “We are grateful to our investors, partners, customers, and team for sharing in our vision to make trucking safer and greener.”

    About Plus

    Plus is a world leader in self-driving truck technology. Headquartered in Silicon Valley, the company was founded in 2016 by a group of serial entrepreneurs and industry veterans, each with over 20 years of experience in high tech and artificial intelligence. Plus is applying full-stack self-driving technology to trucks today to enable large scale autonomous commercial transport. Plus is currently working with some of the leading truck manufacturers, largest shippers, and top fleet operators to begin mass production of its automated driving system. 

    Click here for the full press release.

     



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