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PlusAI unveils third attempt to go public
Autonomous software developer to add $236M in funding
(PlusAI via YouTube)
Key Takeaways:
- PlusAI is set to merge with a Nasdaq-listed special purpose acquisition company in a deal valuing the self-driving truck software developer at $800 million, the company said Sept. 3. The deal is the latest in a line of attempts PlusAI has made to go publ
- The merger is PlusAI’s latest public-listing attempt after previous SPAC deals collapsed and is expected to provide $236 million in funding through 2027.
- PlusAI plans to use the funding to launch factory-built autonomous trucks with partners and target driverless freight operations without safety drivers in 2027.
PlusAI is set to merge with a Nasdaq-listed special purpose acquisition company in a deal valuing the self-driving truck software developer at $800 million, the company said Sept. 3.
The deal is the latest in a line of attempts PlusAI has made to go public through a SPAC merger, and comes ahead of a pivotal year for PlusAI and its peers developing autonomous trucks.
Santa Clara, Calif.-based PlusAI plans to merge with Texas Ventures Acquisition III, which has backing from funds managed by hedge fund and asset manager Yorkville Advisors Global.
The deal will add $236 million to PlusAI’s coffers and is expected to provide it with funding through 2027, when the company aims to put autonomous trucks on the road without a safety driver in the cab.
“This transaction validates a year of significant execution and operational milestones for PlusAI. We are operating autonomous freight routes in Texas today, expanding our OEM partnerships, and successfully monetizing the proprietary data, models and simulation capabilities we have built over the past decade,” said David Liu, PlusAI co founder and CEO.
PlusAI is currently working with Traton Motors brand International Motors, Hyundai and Iveco to launch factory-built autonomous trucks operating its SuperDrive software.
We announced today that PlusAI has entered into a definitive business combination agreement with Texas Ventures Acquisition III Corp. Upon closing of the transaction, the combined company will operate as PlusAI.
The transaction comes as PlusAI enters a period of accelerating…— PlusAI (@PlusAI_Inc) September 3, 2026
The merger announcement comes less than six months after plans to go public with Nasdaq-listed SPAC Churchill Capital Corp IX foundered. That deal valued PlusAI at $1.2 billion.
PlusAI and Churchill — controlled by former investment banker Michael Klein — cited a need for more favorable market conditions.
A deal with an affiliate of the same investment group that took automaker Lucid Motors public was announced in June 2025.
Before that, plans were announced in 2021 to list via a merger with Hennessy Capital Investment Corp. V valuing the company at $3.3 billion. That combination was dissolved in November 2021.
When the attempt to go public was abandoned earlier this year, PlusAI went back to its existing investors for more funds.
Traton committed up to $25 million in dedicated research and development funding for PlusAI at the end of January. Much of the backing is being used to accelerate factory integration of the SuperDrive software into Traton vehicles.
Since the start of 2026, PlusAI has expanded its partnerships with Traton and Iveco.
In addition, SuperDrive’s capabilities were expanded in March, with night driving and construction-zone navigation added in the latest iteration.
RoadSigns has reached its 200th episode since its origins in 2018. Hosts Seth Clevenger and Michael Freeze reflect on how trucking tech has evolved and share the trends that have surprised them. Tune in above or by going to RoadSigns.ttnews.com.
International pulled back the curtain on initial fleet trials of second-generation autonomous LT Series tractors March 31, identifying Ryder System as the first publicly announced participant.
Autonomous truck developers are poised for a busy 2027, with Aurora Innovation and Torc Robotics set to ramp up operations to commercial scale. Also, self-driving passenger vehicles pioneer Tesla aims to expand development of autonomous versions of its Semi Class 8 tractor later this year or early next year.
