Tusimple, a Beijing-based startup focused on developing
autonomous trucks, has disclosed that Nvidia will make a strategic
investment to take a 3% stake in the company. Nvidia's investment is
part of a a Series B financing round, Tusimple indicated.
Tusimple
has plans to raise more than US$30 million through this financing round
in the fourth quarter of 2017. The company previously completed its
Series A financing round in early 2016 and raised a total of CNY50
million (US$7.5 million).
Nvidia's investment in Tusimple is part of the GPU vendor's GPU Ventures program, industry observers believe.
According
to Nvidia, its GPU Ventures program is aimed at supporting startups
across the globe as they build their businesses around GPU-based
platforms. Nvidia is targeting startups that are aligned with its
strategy in fields as diverse as artificial intelligence (AI) and life
sciences to automotive, robotics and virtual reality (VR). The GPU
vendor has invested in more than 25 companies, building relationships
that span strategy, technology, sales and marketing, development and
distribution, and beyond.
Momenta, another China-based
self-driving startup, has also drawn investments from an international
vendor. Mercedes-Benz parent Daimler has reportedly participated in a
US$46 million funding round for Momenta.
http://digitimes.com/news/a20170808PD216.html
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