Nvidia, maker of graphics chips, gets into China’s self-driving cars with investment in Tusimple
Beijing self-driving start-up receives first funding by Nvidia in China’s red hot self-driving industry
Tusimple, a Beijing-based start-up focused on developing autonomous trucks, has received funding from US firm Nvidia – the first investment by the graphics chip giant in China’s red hot self-driving industry.
The investment amount wasn’t disclosed, but was part of a series B-funding round. Nvidia will own 3 per cent of Tusimple’s following its investment, according to the Beijing-based firm.
Previously, Tusimple received 50 million yuan (US$7.43 million) in angel investment from Chinese telecom company Sina, and the start-up also said it had secured financing from various investors in its latest Series-B funding round.
A total of US$929 million was invested in driverless technology in China including self-driving vehicles, in this year’s first quarter, according to a report by research firm CB Insights, making it one of the most popular sectors for early-stage investment.
Nvidia has already forged self-driving alliances with automakers Audi, Toyota and Volvo and has a partnership with Chinese internet giant Baidu to bring artificial intelligence to cloud computing, self-driving vehicles and AI home assistants.