Autonomous trucking technology developer PlusAI plans to become a publicly traded company through a merger with Texas Ventures Acquisition III Corp., a special purpose acquisition company. The transaction could provide PlusAI with up to approximately $300 million in new capital as it works toward the commercial launch of factory-built autonomous trucks in 2027.
The agreement values PlusAI at approximately $800 million before the new investment. If completed, the transaction could include more than $60 million in committed financing from Yorkville Advisors and other investors, along with roughly $236 million currently held in Texas Ventures III’s trust.
PlusAI intends to use the funding to continue developing and integrating its autonomous driving technology with major truck manufacturers. The company is developing SuperDrive, a Level 4 autonomous driving system designed specifically for heavy-duty commercial trucks.
Instead of primarily retrofitting existing trucks with autonomous equipment, PlusAI is working with original equipment manufacturers to integrate SuperDrive directly into factory-built vehicles. Its manufacturing partners include TRATON Group, Hyundai, and IVECO. In the United States, PlusAI is working with International as part of its relationship with TRATON.
The company is already gaining real-world experience ahead of commercialization. PlusAI currently operates autonomous freight routes in Texas with Ryder and International, providing an opportunity to test its technology in active freight operations and existing fleet workflows.
PlusAI ultimately plans to offer SuperDrive through what it describes as a Driver-as-a-Service model. Under that approach, fleets would pay recurring fees to use the company’s autonomous driving software rather than purchasing an entirely separate autonomous vehicle platform.
While SuperDrive represents the company’s primary long-term opportunity, PlusAI is already generating revenue through HyperFoundry, its software platform for developing and validating autonomous and physical AI systems. HyperFoundry uses proprietary data, models, and simulation tools developed through the company’s autonomous trucking program.
PlusAI said HyperFoundry has generated $25 million in revenue, while the company is targeting between $40 million and $50 million in contracted revenue during 2026. Revenue from the platform is expected to help support continued SuperDrive development as PlusAI moves closer to commercial deployment.
The Texas Ventures agreement marks PlusAI’s second attempt to enter the public markets through a SPAC transaction. In June 2025, the company agreed to merge with Churchill Capital Corp IX in a deal that valued PlusAI at approximately $1.2 billion. That agreement was terminated by mutual consent in April 2026 because of market conditions.
PlusAI said the capital available through its latest transaction is expected to support commercialization efforts through 2027. Both companies’ boards have approved the deal, which is expected to close in 2026 following shareholder approval and other customary closing conditions. After completion, the combined business will continue operating under the PlusAI name.
Source: https://www.truckinginfo.com/news/plusai-going-public-to-fund-autonomous-truck-launch
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