Guotai Junan leads $200m funding in Sequoia-backed truck startup PlusAI
February 18, 2021
Chinese self-driving truck startup PlusAI, Inc., has raked in $200 million in a new funding round to accelerate its global expansion plans.
An earlier Bloomberg report in August 2019 had pegged the valuation of PlusAI at over $1 billion.
The round has been led by Guotai Junan International Holdings, with participation from new investors namely CITIC Private Equity Funds Management (CPE) and Wanxiang International Investment.
A slew of existing investors re-upped in the transaction – these include Sequoia Capital China, US global venture capital firm Mayfield Fund, SoftBank-backed Chinese long-haul truck major Full Truck Alliance (FTA), Lightspeed China Partners, early-stage focused GSR Ventures, state-backed SAIC Motor, and China Growth Capital, the investee said in a WeChat post.