Sully explains how TuSimple raises over $1 billion in one day

SAN DIEGO (KUSI) – A little-known startup just a few short years ago, San Diego’s autonomous vehicle maker TuSimple is now one of the region’s most highly valued public companies, according to KUSI contributor Sully Sullivan.

The 6-year-old business raised more than $1 billion Thursday when it listed on Nasdaq in its initial public offering, selling at a rate that valued the startup at $8.5 billion.

“That’s a significant jump from its valuation in 2019 when the startup made headlines for a $1 billion valuation,” said Sully.

TuSimple makes self-driving trucks and, and the software that runs them.

Sully said on Good Evening San Diego, “the company has attracted more funding than many of its Silicon Valley rivals, raising over $800 million from investors in China and the U.S.”

Categories: Good Evening San Diego