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Startup Funding: March 2021

Startup Funding: March 2021
Self-driving vehicles revved up investors in March, with two companies receiving over $200M apiece as they prepare for their systems to enter mass production. One focuses on software for passenger vehicles, while the other is looking to autonomous trucks. Both of the companies received investment from automakers, with China’s largest carmaker SAIC joining each of the funding rounds. It was also a good month for startups making chips for AI acceleration, with four companies from seed to Series D stages raising funds. Plus, two companies are looking to shake up the memory and storage space with some unique solutions. This month, we take a look at 24 startups that collectively raised over $1.3B. ....

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Self-driving truck company Plus adds $220M to recent fundraising bringing total to $420M

Self-driving truck company Plus adds $220M to recent fundraising bringing total to $420M
Plus (formerly Plus.ai), a provider of self-driving truck technology, 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 Capital China, 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 US, 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. ....

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Updated CVSA out-of-service criteria now in effect

Updated CVSA out-of-service criteria now in effect
ccjdigital.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ccjdigital.com Daily Mail and Mail on Sunday newspapers.

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ClearVue Partners co-leads USD 220 million Series C financing for autonomous trucking company Plus

April 01, 2021
Capital raise will take Plus s ambitions to the next level with proceeds going to R&D and testing
SHANGHAI, April 1, 2021 /PRNewswire/ Private equity firm ClearVue Partners yesterday announced the completion of a Series C funding round for Plus (formerly Plus.ai), a leading provider of self-driving truck technology in the US and China, raising USD 220 million. ClearVue is the co-lead investor of the financing round.
Plus specializes in developing full-stack self-driving technology to enable large scale autonomous commercial fleets. The firm is one of the most advanced autonomous trucking companies today in terms of technological progress and was the first to obtain California s Autonomous Testing License. The company was established in 2016 by a group of Stanford PhD classmates who saw the strong potential of artificial intelligence to transform the trillion-dollar commercial trucking industry. ....

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Cupertino self-driving truck unicorn Plus adds $220 million, stays mum on SPAC talks

Cupertino self-driving truck unicorn Plus adds $220 million, stays mum on SPAC talks
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