Texas Ventures Acquisition III, PlusAI Agree to $800 Million Business Combination

06:38 AM EDT, 09/03/2026 (MT Newswires) -- Texas Ventures Acquisition III ( TVA) and Plus Automation (PlusAI) said they entered a definitive business combination agreement valuing PlusAI at an $800 million pre-money equity value. The deal provides up to approximately $300 million in capital, including $236 million held in Texas Ventures III's trust, it said. PlusAI has generated $25 million in revenue and targets $40-$50 million in contracted 2026 revenue, it added. The company said it operates autonomous freight routes in Texas and targets a 2027 commercial launch with OEM partners including TRATON, Hyundai and IVECO.