Japanese autonomous driving start-up Tier IV raises $100m

Sompo Japan Nipponkoa Insurance led the round, with participation from KDDI Corporation, Yamaha Motor, and Aisan Technology, a company that specializes in digital mapping. Previous backers include Sony Innovation Fund, Innovation Network Corporation of Japan, and University of Tokyo Edge Capital.

Tier IV claims to offer the first all-in-one open-source software for autonomous driving technology. The system has been deployed by more than 200 companies globally, among them automotive manufacturers and autonomous driving start-ups. Tier IV’s lead product, known as Autoware, is also used by the US Department of Transportation Federal Highway Administration.

The company says it has field-tested its technology with autonomous transportation companies at more than 60 regions in Japan and overseas without any incident. This service includes vehicle, sensor, and software rental, test execution and demonstrations, as well as handling the applications and attainment of necessary permissions with local authorities.

"Tier IV has a mission to embody disruptive creation and creative disruption with self-driving technology,” Shinpei Kato, founder of Tier IV, said in a statement. “We have derived a solid software platform and successfully integrated it with real vehicles. It is time to step forward to real services, embracing functional safety and risk management.”

Autonomous driving has become a popular investment segment in Asia on the back of various social and economic themes such as smart city development. However, the industry faces a number of significant challenges such as regulatory hurdles, safety concerns, and cultural barriers to adoption. Recent activity in Japan includes a $10 million round for Ascent Robotics.

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• Topics
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