Japanese self-driving startup Tier IV raises $100m in Series A

Photo: Reinhart Julian/ Unsplash

Japanese open-source self-driving startup Tier IV Inc has raised a total of $100 million in a Series A funding round led by Sompo Japan Nipponkoa Insurance, the Japanese major P&C insurance company, according to an announcement.

Existing investors, Yamaha Motor Co., Ltd. (YMC), KDDI Corporation, JAFCO Co., Ltd., and AISAN Technology Co.,Ltd also participated in the round.

The funds will be used to facilitate commercialization of self-driving technology in private areas, depopulated areas, and urban areas. It enables Tier IV to become a global platform company and scale out its self-driving business.

Founded in December 2015, Tier IV has developed and maintained Autoware, the world’s first “all-in-one” open-source software for self-driving technology, which is now widely adopted by over 200 companies around the world.

“Tier IV has a mission to embody disruptive creation and creative disruption with self-driving technology. We have derived a solid software platform and successfully integrated it with real vehicles,” said Shinpei Kato, Founder of Tier IV and the chairman of the Board of the Autoware Foundation.

Established in 1988, Sompo Japan Nipponkoa Insurance provides services related to the areas of automobile, fire, earthquake, housing, casualty and travel.

 

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.