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 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.
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SOURCE Sky9 Capital