[FUNDING NEWS] TIER IV Raises Additional $54 Mn Series B Funding Round

Expanding its Series B fundraising round, TIER IV, a leader in open-source software for autonomous driving systems, has raised an additional US$54 million (¥8.5 billion).

With this, the company has raised US$243 million (¥38.1 billion) in total capital, bringing the Series B funding to US$132 million (¥20.7 billion).

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The most recent funding will be used to begin manufacturing Level 4 autonomous vehicles, which will make use of TIER IV’s cutting-edge software systems and reference designs. The money will also support our efforts to create tools and processes that are strongly integrated into safety assessment techniques.

TIER IV commercialized autonomous driving system communication, insurance, and risk management software platforms during the Series A round, expanding beyond Autoware. The Series B round improved our software development, especially in promoting reference designs.

Autoware is still being developed by TIER IV and its international partners, who also offer turn-key solutions for the global commercialization of autonomous vehicles built on Autoware.

About TIER IV

TIER IV, a Japanese deep-tech startup, shares technology for safe intelligent vehicles to help as many people and organizations as possible overcome time and space to collectively develop autonomous vehicles.

TIER IV, founded in December 2015, developed Autoware, the first open-source autonomous driving software, and used it in last-mile driverless transportation and logistics.