On November 21, NetEase Smart News reported that Tucson, a Chinese company specializing in autonomous trucking technology, has successfully closed its Series C funding round of $55 million. The round was led by Compound Capital, with additional investments from Sina, Zhiping Capital, and other key players. This marks another significant step forward for the company as it continues to push the boundaries of autonomous driving in the logistics sector.
This funding comes just three months after Tucson announced its Series B round, which was backed by Sina, Zhiping Capital, and NVIDIA. The new investment will be used to accelerate research and development, expand testing programs, and bring the company’s self-driving technology closer to commercialization. According to CEO Chen Mo, the funds will also support the expansion of Tucson’s road testing initiatives, both in the U.S. and China.
Tucson is an AI-driven company focused on the development and application of autonomous cargo vehicles. It operates R&D centers in both China and the United States. In June, the company secured a road test permit in California and completed a long-distance L4 autonomous drive from California to Arizona. Meanwhile, it has been conducting extensive road tests in China, covering nearly 10,000 kilometers. Earlier this month, the company showcased three of its next-generation L4 autonomous trucks in Shanghai, highlighting their potential for real-world deployment.
Compound Capital, one of the leading investors, expressed strong confidence in the future of autonomous driving in logistics. "AI-powered autonomous systems have immense economic and social value," said a representative. "They can significantly reduce traffic accidents, lower carbon emissions, and make long-haul freight more secure, efficient, and environmentally friendly. Additionally, they help reduce fuel costs for users. We believe in Tucson's innovative technology and practical business model, and we look forward to supporting them as they continue to shape the future of autonomous transportation."
Stay tuned to the NetEase Smart News official account (smartman163) for the latest updates on AI and autonomous vehicle developments. Whether you're an industry professional or simply curious about the future of mobility, there's never been a better time to stay informed.
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