TIER IV, a Tokyo, Japan-based company which specializes in open-source software for autonomous driving systems, raised additional $54M in Series B funding.
The round bought the total amount to US$132M and the company’s overall funding to US$243M.
The company intends to use the funds to further enhance its software development capabilities, particularly in advocating the concept of reference designs. The funds are earmarked for launching the production of Level 4 autonomous driving systems, leveraging TIER IV’s advanced software platforms and reference designs. The funds will also boost the company’s efforts to develop safety assessment methods that integrate processes and tools.
TIER IV specializes in software development, vehicle manufacturing, and safety assessment to foster the deployment of Level 4 autonomous driving systems across various environments. It provides Autoware, an open-source software for autonomous driving, to empower intelligent vehicles worldwide. With it, the company scalable platforms and deliver comprehensive solutions across software development, vehicle manufacturing, and service operations.
TIER IV was also selected for the New Energy and Industrial Technology Development Organization’s (NEDO) Green Innovation Fund Project, participating in a substantial US$162M (¥25.4 billion) R&D initiative aimed at introducing scalability to autonomous driving systems.
FinSMEs
17/06/2024