Posted on Wednesday, August 09 2017 @ 12:53 CEST by Thomas De Maesschalck
NVIDIA will reportedly participate in the Series B financing round of Tusimple, a Chinese startup that's working on self-driving trucks. The investment in the Beijing-based company is believed to be part of NVIDIA's GPU Ventures program. Tusimple raised $7.5 million in its Series A financing round in early 2016 and its Series B financing round, which will take place in the final quarter of this year, is projected to result in over $30 million in funding. Once the financing round is done, NVIDIA will own 3 percent of Tusimple.
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.
