Tier IV raises over $100 million to develop open source software for driverless cars
Tier IV, a Japan-based driverless car software maintainer and provider, this week announced the closure of a round north of $100 million led by Sompo Japan Nipponkoa Insurance, with participation from Yamaha Motor, KDDI, JAFCO, and Aisan Technology. The fresh capital brings the company’s total raised to nearly $130 million following seed rounds totaling $28 million, and founder Shinpei Kato said it’ll fuel the global commercialization and expansion of Tier IV’s self-driving technology platform.