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TIER IV has successfully extended its Series B funding round, securing an additional $54 million. This funding will advance the deployment of Level 4 autonomous driving systems across Japan. The company’s overall funding now stands at $243 million.
Key Highlights:
- Series B Funding Round Extended: Secured an additional $54 million.
- Total Series B Funding: Now $132 million.
- Overall Funding: Reached $243 million.
- Primary Goal: Launch production of Level 4 autonomous driving systems.
- Participation in NEDO’s Green Innovation Fund Project: A $162 million R&D initiative.
TIER IV, a leader in open-source software for autonomous driving, continues to advance its mission with a significant funding boost. This latest round of investment will enable the production and deployment of Level 4 autonomous driving systems using their advanced software platforms and reference designs. The additional funds will also enhance the development of safety assessment methods.
Background:
In the Series A round, TIER IV expanded its focus from developing Autoware software to creating comprehensive software platforms that include communication, insurance, and risk management for autonomous systems. The Series B funding has further bolstered their software capabilities, emphasizing reference designs. TIER IV’s selection for the New Energy and Industrial Technology Development Organization’s (NEDO) Green Innovation Fund Project involves a $162 million R&D initiative to scale autonomous driving systems.
Purpose of the Funding:
The new funds will be directed towards:
- Production of Level 4 Autonomous Driving Systems
- Development of Safety Assessment Methods
- Advancing Electrification Modules for Various Vehicle Models
TIER IV has also been selected for the Ministry of Land, Infrastructure, Transport and Tourism’s SBIR Phase 3 funding, aiming to establish a robust Level 4 certification framework.
These initiatives align with the Japanese government’s goal to deploy Level 4 autonomous driving systems in 50 locations by 2025 and over 100 by 2027, enhancing nationwide mobility services.
Key Business Areas:
From Series A to Series B, TIER IV has made significant advancements in its software platforms, focusing on:
- Vehicle Models
- Safety Assessment Methods for Level 4 Systems
In collaboration with global partners, TIER IV is ready for full-scale commercialization both in Japan and worldwide. Their main applications include:
- Mobility Services: Route buses and urban taxis
- Logistics Services: Intra-factory transportation and highway trucks
Future Outlook:
TIER IV is committed to developing new vehicle models and safety assessment methods, leading the deployment of enhanced mobility and logistics services powered by Level 4 autonomous systems. Future plans include creating a new reference design for privately-owned passenger vehicles and developing electric and electronic architectures (EEA) optimized for software-defined vehicles (SDV).
About TIER IV:
TIER IV is at the forefront of deep tech innovation, pioneering Autoware, the world’s first open-source software for autonomous driving. As a founding member of the Autoware Foundation, TIER IV builds scalable platforms and delivers comprehensive solutions across software development, vehicle manufacturing, and service operations, reshaping the future of intelligent vehicles.
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