Chronicle Journal: Finance

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 /PRNewswire/ -- 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

Sky9 team with TuSimple co-founder Mo Chen at TuSimple IPO event. From left to right: David Liu, Vice President of Sky9 Capital, Mo Chen, Co-founder and Executive Chairman of TuSimple, and Ron Cao, Founder and Partner of Sky9 Capital.

Sky9 Capital portfolio company TuSimple is first autonomous trucking company to IPO at $8.49 billion market cap

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. 

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."

About Sky9 Capital:

Sky9 Capital is a technology venture capital firm focused on investing in innovation and disruption in the China market. The partners of Sky9 Capital currently manage over $1.1 billion in AUM. Over the past decade, our team members have invested in companies that have grown into some of China's biggest technology names including: PinDuoDuo (NASDAQ: PDD), Meituan/Dianping (HKSE: 3690), Energy Monster (NASDAQ: EM), TuSimple (NASDAQ: TSP), Innolight (SHE: 300308), FangDD (NASDAQ: DUO), Finvolution (NYSE: FINV), QingCloud (SHA: 688316), Jianpu Technology (NYSE: JT), 51World, FaceU/ByteDance, Full Truck Alliance, MetaApp, Tujia and others. For more information, please visit: www.sky9capital.com 

Media contacts:

Fay Margo, Brackendale Consulting Ltd
Fay@brackendaleconsulting.com
Tel: + 44 1342 825136

Laura Shelley, Brackendale Consulting Ltd
Laura@brackendaleconsulting.com
Tel: +44 7595 879117

High-resolution images available on request from Brackendale as above.

 

Sky9 Capital

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/sky9-capital-portfolio-company-tusimple-is-first-autonomous-trucking-firm-to-ipo-listing-on-nasdaq-at-8-49-billion-market-capitalization-301270183.html

SOURCE Sky9 Capital

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.