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PlusAI, a physical AI company developing virtual driver software for autonomous trucks, and Texas Ventures Acquisition III Corp (TVA) have signed a definitive business combination agreement valuing PlusAI at an $800 million pre-money equity value.
The transaction is expected to provide up to approximately $300 million of capital, comprising $60+ million of fully committed financing, including capital from funds managed by Yorkville Advisors, and the Texas Ventures III trust of about $236 million. The financing is expected to meet the minimum cash condition and fund PlusAI’s commercialization roadmap through 2027, including OEM integration and a targeted 2027 commercial launch of factory-built autonomous trucks using its Level 4 SuperDrive™ system.
PlusAI’s HyperFoundry™ platform has generated $25 million of revenue and is targeting $40–50 million of contracted revenue in 2026. The boards of both companies unanimously approved the deal, which is expected to close in 2026, after which the combined company will operate as PlusAI.
Inspirato LLC announces the completion of its business combination with Thayer Ventures Acquisition Corporation, changing its name to Inspirato Incorporated. This move positions Inspirato to trade on Nasdaq under the ticker symbols 'ISPO' and 'ISPOW' starting February 14, 2022. Co-founders Brent and Brad Handler express excitement over expanding the company's luxury travel offerings and subscriber base. The business aims to innovate in the luxury travel subscription market, emphasizing customer satisfaction and growth opportunities.