- Plus Automation Inc. to merge with Churchill Capital Corp IX (CCIX, Financial) at a $1.2 billion pre-money valuation.
- The merger will provide up to $300 million in gross proceeds, supporting Plus's commercial launch of autonomous trucks by 2027.
- Plus aims to tackle a $2 trillion U.S. and European trucking market by addressing a driver shortage of over 300,000 annually.
Plus Automation Inc., a prominent AI-based virtual driver software company for autonomous trucks, has announced a merger with Churchill Capital Corp IX (CCIX). The merger values Plus at a pre-money equity valuation of $1.2 billion and is set to generate up to $300 million in gross proceeds. This capital influx aims to drive Plus's strategic initiatives, facilitating the planned commercial rollout of its autonomous trucks by 2027.
The combined company will operate under the name PlusAI and focus on the U.S. and European truck freight markets. These markets present a significant opportunity, valued at approximately $2 trillion, and face a critical shortage of over 300,000 truck drivers each year. Plus's SuperDrive software is designed to meet this demand by providing scalable and safe autonomous driving solutions.
Plus has strategically partnered with major global truck manufacturers, including TRATON GROUP (Scania, MAN, and International), Hyundai, and IVECO. These partnerships leverage the well-established production, validation, and support infrastructures of these OEMs, enabling Plus to focus on its software-centric business model. This model promises high-margin, recurring revenue potential through a per-mile usage framework.
To date, Plus has successfully deployed its technology over more than five million miles of real-world driving data across the U.S., Europe, and Asia. This extensive dataset supports the ongoing refinement and validation of Plus's SuperDrive platform, which achieved a driver-out safety validation milestone in April 2025.
The merger is expected to close in the fourth quarter of 2025, pending customary closing conditions and approvals from both Plus and CCIX shareholders. This transaction is anticipated to secure the necessary funding to guide Plus through its commercial launch phase, helping to bridge the gap in the autonomous trucking market.
