TIER IV expands loan agreement with Japanese megabank MUFG to $19 Million
TOKYO, July 3, 2024 — TIER IV, the pioneering force behind the world’s first open-source software for autonomous driving, is excited to announce an expansion of its loan agreement with MUFG Bank to a total of US$19 million (¥3 billion). This expansion builds on the initial agreement announced in January 2024.
A frontrunner in full-stack autonomous driving solutions, TIER IV is strategically positioned for business expansion. The increased funding will primarily be directed towards supporting Japanese government projects and expediting vehicle deployment to local government entities, reinforcing TIER IV’s commitment to accelerating the deployment of autonomous driving technology.
About TIER IV
TIER IV stands at the forefront of deep tech innovation, pioneering Autoware, the world’s first open-source software for autonomous driving, to empower intelligent vehicles worldwide. Harnessing Autoware, we build scalable platforms and deliver comprehensive solutions across software development, vehicle manufacturing, and service operations. As a founding member of the Autoware Foundation, our commitment to open-source software enables individuals and organizations to thrive within the evolving technology for autonomous driving, reshaping the future of intelligent vehicles.
Autoware is a registered trademark of the Autoware Foundation.
