PlusAI, Inc. Asset Profile

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Year established

2016

Location

Cupertino CA US

Primary Industry

Software

About

Founded in 2016 and based in California, US, PlusAI, Inc., aka Plus provides deep learning and machine learning-based self-driving technology solutions for logistic businesses. The company was co-founded by David Liu, Hao Zheng, Shawn Kerrigan, and Tim Daly. In 2021, PlusAI, Inc. raised a funding of USD 200 million in Series B round from China Growth Capital, CPE Capital, GSR Ventures, Guotai Junan Assets, Hedosophia, Lightspeed Venture Partners, Manbang Group, Mayfield Fund, Science Applications International Corporation, Sequoia Capital, and Wanxiang International. In May 2021, PlusAI, Inc. agreed to merge with Hennessy Capital Investment Corp. V, a special purpose acquisition company for approximately USD 350 million in cash. The company works with commercial transport businesses, by offering artificial intelligence-based self-driving truck solutions. The company offers radars - sensors that provide accurate 3D object detection, lidars - sensors that use laser beams to identify the location of obstacles around the vehicle, cameras – provides long-range perception, and localization and mapping algorithms – tracks and monitor the vehicle’s location in real-time. The company plans to go public through a merger with a special-purchase acquisition company in 2021. PlusAI also plans to use the funds raised in Series B round to accelerate the commercialization and deployment of its automated trucking system. Additionally, it plans to develop a sales, engineering, and support network to help fleets integrate its platform into their daily operations. The company also plans to scale deployments in the U.S. and China and expand to Europe and other parts of Asia.

Current Investors

Lightspeed Venture Partners, Mayfield Fund, Sequoia Capital

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Primary Industry

Software

Sub Industries

Automobiles, Other Vehicles & Parts, Logistics Software, Analytics & Performance Software

Website

www.plus.ai

Verticals

Artificial Intelligence, Artificial Intelligence, Artificial Intelligence

Company Stage

Merged

Total Amount Raised

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