TIER IV Secures Additional $54 Million In Series B Funding: Deploying Level 4 Autonomous Driving Systems Across Japan

 


TIER IV, a leader in open-source software for autonomous driving systems, has successfully extended its Series B funding round, securing an additional $54 million (¥8.5 billion). This brings the total Series B funding to $132 million (¥20.7 billion) and the company’s overall funding to $243 million (¥38.1 billion). During the Series A round, TIER IV expanded from developing the open-source software Autoware to commercializing comprehensive platforms that include communication, insurance, and risk management for autonomous driving systems. The Series B round enhances software development capabilities, particularly in reference designs, and supports TIER IV’s participation in NEDO’s $162 million (¥25.4 billion) Green Innovation Fund Project aimed at scalable autonomous driving systems.

The newly secured funds will be used to launch Level 4 autonomous driving systems, leveraging TIER IV's advanced platforms and reference designs, and to develop integrated safety assessment methods. TIER IV has been selected for NEDO and SBIR funding programs, focusing on advancing electrification modules and establishing a Level 4 certification framework. These initiatives align with the Japanese government’s goal to deploy Level 4 systems in 50 locations by 2025 and over 100 by 2027, enhancing mobility services nationwide. TIER IV plans to further develop new vehicle models, safety assessment methods, and electric and electronic architectures optimized for software-defined vehicles, spearheading the deployment of Level 4 autonomous driving systems globally.

Read More - https://www.techdogs.com/tech-news/pr-newswire/tier-iv-secures-additional-54-million-in-series-b-funding-deploying-level-4-autonomous-driving-systems-across-japan

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