TuSimple raises $55 million

TuSimple, a Chinese autonomous truck startup which develops technology for autonomous long-distance freight delivery, has raised $55 million in fresh funds to maintain its edge in the autonomous driving sector.

TuSimple's latest funding round is led by Chinese social media company Sina and others like venture capital funds Composite Capital and Trinity Investment. In August, the company raised $20 million from Sina and other investors including US graphics chip maker Nvidia.

"The new investment will be used to strengthen the company's research and development capabilities and conduct more tests," said Chief Executive Chen Mo.