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Sky9 Capital portfolio company TuSimple lists on Nasdaq at USD8.49bn market capitalisation

Sky9 Capital, a venture capital firm investing in Chinese start-ups, has completed the flotation of its portfolio company TuSimple on the Nasdaq stock exchange today under the ticker symbol ‘TSP’ at a market capitalisation of USD8.49 billion.  

TuSimple is the global leader in autonomous trucking and is revolutionising the USD4 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-metre perception range, a 35-second planning horizon, high-definition maps with accuracy within five centimetres, 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 USD2.3 billion 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, says: “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.” 

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