Total amount raised
$520 Millions
Latest funding date
03/01/2021
Location
Plus has successfully raised significant funding through multiple rounds, with the latest being a Series C round. The company is focused on developing AI-powered autonomous driving technology, particularly for trucks.
Keep reading to explore the intricacies of Plus's fundraising journey and the investors backing this innovative platform.
What Is Plus?
Plus, founded in June 2016, is a global leader in AI-based autonomous trucking technology. Headquartered in Santa Clara, California, the company also has offices in Fremont, California, and Munich, Germany. The founders include David Liu, Hao Zheng, Shawn Kerrigan, and Tim Daly.
Operating within the industries of artificial intelligence, autonomous vehicles, logistics, and transportation, Plus employs between 251-500 people. The company is renowned for its flagship product, SuperDrive, an AI-powered virtual driver that enables trucks to operate autonomously. Plus collaborates with leading global truck manufacturers and technology companies to deploy its autonomous driving solutions at scale.
How Much Funding Has Plus Raised?
- Series A (June 11, 2018)
- Amount Raised: $101.7M
- Date: June 2018
- Lead Investors: GSR Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the development of their autonomous driving technology and scale operations.
- Series A (November 15, 2018)
- Amount Raised: $32M
- Date: November 2018
- Lead Investors: HSG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance their AI capabilities and expand their market presence.
- Series B (November 23, 2020)
- Amount Raised: $286.2M
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the commercialization of their autonomous trucking solutions.
- Series C (March 1, 2021)
- Amount Raised: $100.2M
- Date: March 2021
- Lead Investors: ClearVue Partners, FountainVest Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their autonomous driving technology and increase market penetration.
Total Amount Raised: $520.1M. Current Valuation: Not publicly disclosed.
Key Investors
- ClearVue Partners
- Details: ClearVue Partners is a private equity firm focused on consumer growth markets in China. They aim to invest in companies that have the potential for significant growth in the consumer sector.
- Investment Focus Areas: Consumer, Retail, Technology
- Notable Investments: Not publicly disclosed
- FountainVest Partners
- Details: FountainVest Partners is a leading private equity firm in Asia, focusing on long-term investments. They are known for their strategic investments in high-growth sectors.
- Investment Focus Areas: Healthcare, Consumer, Technology
- Notable Investments: Not publicly disclosed
- HSG
- Details: HSG is a venture capital firm that invests in early-stage technology companies. They support startups with innovative solutions and high growth potential.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Not publicly disclosed
- GSR Ventures
- Details: GSR Ventures is a venture capital firm that invests primarily in early-stage technology companies. They focus on companies that are developing cutting-edge technologies.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Not publicly disclosed
What's Next for Plus?
Plus is poised to capitalize on the growing demand for autonomous driving technology, particularly in the logistics and transportation sectors. With a significant $100 million raised, the company is well-positioned to enhance its technology and expand its market presence. This funding opens doors for further research and development, potentially leading to new market entries and partnerships.
Future fundraising opportunities seem promising as Plus continues to achieve milestones and attract investor interest. However, the company may face challenges such as regulatory hurdles, technological advancements, and competition. Navigating these obstacles will be crucial for Plus to maintain its growth trajectory and secure its place in the autonomous driving industry.
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