United StatesRobotics & Physical AI▲
PlusAI to Go Public via SPAC Merger with Texas Ventures III
Plus Automation, Inc., known as PlusAI, a developer of AI-based virtual driver software for factory-built autonomous trucks, has agreed to go public through a business combination with special purpose acquisition company Texas Ventures Acquisition III Corp. The deal values PlusAI at an approximately $800 million pre-money equity value and could bring up to roughly $300 million in capital, including over $60 million in fully committed financing and about $236 million from the SPAC's trust. PlusAI has generated $25 million in revenue from its HyperFoundry software platform and targets $40 to $50 million in contracted revenue for 2026, while its SuperDrive Level 4 autonomous driving system is already hauling freight in Texas with Ryder and International. The combined company will operate as PlusAI, with the transaction expected to close in 2026 and support a targeted 2027 commercial launch of factory-built autonomous trucks with partners including TRATON, Hyundai, and IVECO.
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TVA · Capital · Positive Texas Ventures Acquisition III is the SPAC merging with PlusAI, providing up to ~$236 million from its trust in the business combination.
PlusAI (Plus Automation, Inc.) · Capital · Positive PlusAI agrees to go public via SPAC merger at ~$800M pre-money valuation, bringing up to ~$300M in capital.
PlusAI (Plus Automation, Inc.) · Demand · Positive HyperFoundry generated $25M revenue with $40-50M contracted revenue targeted for 2026, and SuperDrive L4 is already hauling freight with Ryder and International.
R · Demand · Positive PlusAI's SuperDrive Level 4 autonomous system is already hauling freight in Texas with Ryder, signaling a real autonomous-trucking deployment partnership.
005380.KO · Demand · Positive Hyundai is named as a partner for the targeted 2027 commercial launch of factory-built autonomous trucks with PlusAI.
0AB5.LSE · Demand · Positive IVECO is named as a partner for the targeted 2027 commercial launch of factory-built autonomous trucks with PlusAI.