Sompo leads $100m Series A funding in Japanese self-driving startup

Property/casualty insurer Sompo Japan Nipponkoa Insurance has led the Series A funding round of Japan-based self-driving technology start-up Tier IV.

Tier IV has raised over $100 million in total funding that it will use to facilitate commercialisation of self-driving technology in private areas, depopulated areas, and urban areas.

Other investors included Yamaha Motor, KDDI Corporation, JAFCO, and Aisan Technology.

"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. It is time to step forward to real services, embracing functional safety and risk management," said Shinpei Kato, founder of Tier IV and the chairman of the Board of the Autoware Foundation.

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