Meridian Hedged Equity Fund on Aurora Innovation Inc.
Thesis
Aurora is developing the Aurora Driver autonomous-driving system and intends to commercialize autonomous trucking through a Driver as a Service model. The company achieved commercial milestones including driverless hauls for McLane and an agreement with Hirschbach Motor Lines for a future fleet of 500 autonomous trucks. Meridian also highlighted Aurora's progress toward final validation for driverless operations and expansion of its freight network as evidence of continued commercialization progress.
“Performance was fueled by critical commercial milestones, including the launch of driverless hauls for McLane Company.”