TIER IV secures $54m to advance autonomous driving technologies

TIER IV, a pioneer in open-source software for autonomous driving systems, has successfully extended its Series B funding, securing an additional US$54 million. This recent infusion raises the total Series B capital to US$132 million, with the overall funding reaching US$243 million. The round was supported by key stakeholders eager to advance the next generation of autonomous driving technology.

Advancing Autonomous Driving Innovations

The additional funds will be allocated to launching the production of Level 4 autonomous driving systems, leveraging TIER IV’s sophisticated software platforms and reference designs. These funds will also support the development of new safety assessment methods, integrating various processes and tools to enhance the safety and reliability of autonomous vehicles.

Government and Industry Support

TIER IV’s strategic initiatives are aligned with the Japanese government’s goals to deploy Level 4 autonomous driving systems across 50 locations by 2025 and over 100 by 2027. The company’s efforts are bolstered by participation in significant projects, including a US$162 million R&D initiative under the New Energy and Industrial Technology Development Organization’s (NEDO) Green Innovation Fund Project. This project focuses on introducing scalability to autonomous driving systems, which is crucial for widespread adoption.

Expanding Impact and Future Outlook

From Series A to Series B, TIER IV has made significant advancements in its software platforms, emphasizing the development of vehicle models and safety assessment methods for Level 4 autonomous systems. In collaboration with global partners, TIER IV is preparing for full-scale commercialization, both in Japan and internationally. The company’s main applications include mobility services such as route buses and urban taxis, and logistics services like intra-factory transportation and highway trucks, all within a Level 4 regulatory framework.

Looking forward, TIER IV plans to further develop new vehicle models and open safety assessment methods, spearheading the deployment of enhanced mobility and logistics services powered by advanced autonomous driving systems. The company is committed to leading the charge in electric and electronic architectures optimized for software-defined vehicles, contributing to the future of automotive innovation.