# PlusAI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/plusai

- Industry: Software
- Headquarters: Cupertino, US
- Website: www.plus.ai
- Total disclosed funding: $420M
- Latest round: Series C (Mar 31, 2021)
- Investors on record: 19

## 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.

## Funding rounds

- Series C, Mar 31, 2021, $220M — Hong Shan, Quanta Computer, Millennium Technology Value Partners, FountainVest, ClearVue Partners, SAIC Venture Capital, Guizhou Fumeng Technology Co Ltd, Phi Zoyi Capital
- Series B, Feb 10, 2021, $200M — Lightspeed Venture Partners, Mayfield Fund, Hong Shan, CPE Capital, GSR Ventures, Science Applications International Corporation, Guotai Junan Assets, Wanxiang International, China Growth Capital, Guizhou Fumeng Technology Co Ltd, Hedosophia
- Series A, Nov 15, 2018 — Lightspeed Venture Partners, Hong Shan, GSR Ventures, China Growth Capital, Guizhou Fumeng Technology Co Ltd
- Series A, Jun 21, 2018 — GSR Ventures, Guizhou Fumeng Technology Co Ltd
- Series A, Mar 8, 2018 — China Growth Capital, Guizhou Fumeng Technology Co Ltd
- Seed, Nov 11, 2016 — Lightspeed Venture Partners, Mayfield Fund, Hong Shan, GSR Ventures, TSVC, China Growth Capital, SAIC Venture Capital, FTA Ventures

## Investors

- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Seed, Series A, Series B
- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Seed, Series B
- Hong Shan — Seed, Series A, Series B, Series C
- GSR Ventures (https://capitalatlas.ai/funds/gsr-ventures) — Seed, Series A, Series B
- TSVC (https://capitalatlas.ai/funds/tsvc) — Seed
- China Growth Capital (https://capitalatlas.ai/funds/china-growth-capital) — Seed, Series A, Series B
- SAIC Venture Capital (https://capitalatlas.ai/funds/saic-venture-capital) — Seed, Series C
- FTA Ventures — Seed
- Guizhou Fumeng Technology Co Ltd — Series A, Series B, Series C
- CPE Capital (https://capitalatlas.ai/funds/cpe-capital) — Series B
- Science Applications International Corporation — Series B
- Guotai Junan Assets — Series B
- Wanxiang International — Series B
- Hedosophia (https://capitalatlas.ai/funds/hedosophia) — Series B
- Quanta Computer — Series C
- Millennium Technology Value Partners (https://capitalatlas.ai/funds/millennium-technology-value-partners) — Series C
- FountainVest (https://capitalatlas.ai/funds/fountainvest) — Series C
- ClearVue Partners (https://capitalatlas.ai/funds/clearvue-partners) — Series C
- Phi Zoyi Capital (https://capitalatlas.ai/funds/phi-zoyi-capital) — Series C