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- Tier IV
Tier IV Valuation, Funding & Investors
Tier IV is valued at $626M as of June 2026.
Last Tier IV valuation
$626M
Undisclosed stage · Jun 2026
Last Tier IV funding round
$6M
Undisclosed stage · Jun 2026
Cumulative funding Tier IV raised
$458M
across 8 funding rounds
Key investors in Tier IV
Yamaha Motor
Jafco Group
KDDI
Sompo Holdings
Aisan Technology
UTEC-The University of Tokyo Edge Capital Partners
About Tier IV
Nagoya-based Tier IV is an academic startup advancing open-source autonomous vehicle technology through Autoware software. Founded in December 2015, it develops solutions for last-mile driverless shuttles and logistics robots, partnering with universities and automakers to deploy pilots in Japan and enable global contributions to intelligent mobility.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$626M (Jun 2026)
Tier IV Valuation
Tier IV is currently valued at $626M, based on its undisclosed-stage round in June 2026.
The $6M round was led by Toyota Invention Partners.
Tier IV's valuation has grown 1.2x from $511M at its strategic investment round in August 2020 to $626M in June 2026, across 3 priced rounds.
Tier IV valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2026 | Undisclosed stage | $626M |
| Jun 2024 | Series B | $400M |
| Aug 2020 | Strategic investment | $511M |
Tier IV Funding History
Tier IV has raised a total of $458M across 8 funding rounds.
Tier IV's first fundraising round was a $800K strategic investment round in September 2017. The most recent completed round was a $6M undisclosed-stage round in June 2026.
Tier IV funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Undisclosed stage | Toyota Invention Partners (lead) | $6M | $626M | Toyota invested JPY 1,000 million in Tier IV on June 9, 2026 through Toyota Invention Partners, taking a 1% stake in the autonomous-driving company. The stake was described as part of Toyota’s broader push to advance autonomous driving development and regional deployment, and the transaction was framed as a strategic partnership rather than a full acquisition. The investment aligns with Toyota’s effort to accelerate level 4 autonomous driving and build alliances with technology firms in key markets. Tier IV is positioned as a strategic fit because it develops autonomous driving systems and related services, including open-source software for self-driving vehicles. The transaction was also tied to Toyota’s broader initiative to support collaboration between development speed and safety in autonomous driving. Tier IV was founded in 2015 and is known for Autoware, an open-source autonomous driving software platform. In March 2026, it released a hardware-agnostic level 4 software stack compatible with multiple automotive-grade SoCs and sensors, and made it available globally through the Autoware platform at no cost. The company operates in autonomous-driving software and services, with the deal signaling continued expansion of its ecosystem and industrial partnerships. |
| Jun 2024 | Series B | - | $54M | $400M | Tier IV is an autonomous driving technology company developing open-source software and platforms for self-driving vehicles. On June 4, 2024, it raised venture funding through a combination of Series B, Series B2, and Series B3 rounds led by Nippon Telegraph & Telephone, achieving a pre-money valuation of $400 million. Earlier funding includes a Series B on July 19, 2022, and prior rounds totaling over $321 million across 8 rounds as of recent data, with 12 investors including Deep Tech Startup Support Program. The company has continued activity with later non-equity rounds like a Line of Credit in 2026 and a Grant in 2023. |
| Jul 2022 | Series B | Yamaha Motor; Bridgestone; Sompo Holdings | $89M | - | Tier IV is a Japanese startup leading the development of Autoware, the world's first open-source autonomous driving operating system, providing solutions for developing and managing autonomous vehicles. On July 19, 2022, it raised approximately $87-88.5 million in a Series B funding round from investors including Bridgestone Corporation, Sompo Holdings, and Yamaha Motor, with amounts reported as $87.8M or US$87M. This round coincided with Tier IV being adopted into Japan's Green Innovation Fund project for research and development of autonomous driving software platforms. The funding supports the Green Autonomous Driving Project, aiming for 100 times higher energy efficiency in autonomous vehicles compared to current technology. Bridgestone's investment leverages partnerships for testing, verification, and validation of autonomous vehicles at facilities like Bridgestone Innovation Park and B-Mobility proving ground, accelerating advanced tire technologies and next-generation mobility solutions. Collaborations with Sompo and Yamaha aim to enhance business through co-creation in microautonomy, focusing on scalable, affordable autonomous systems using open technology components. Tier IV plans to conduct on-site testing worldwide to ensure safe autonomous driving under various environments. The Green Innovation Fund, backed by the Japanese government with $15 billion, targets zero greenhouse gas emissions by 2050. |
| Aug 2020 | Strategic investment | Sompo Holdings (lead) | $166M | $511M | Tier IV is a Nagoya, Japan-based developer of open-source autonomous driving software, focusing on self-driving technology for Level 4 automation. In August 2020, Sompo Holdings invested approximately JPY9.8 billion (about $92 million USD), acquiring an 18% stake in a Corporate Minority round, implying a full post-money valuation of approximately $511 million USD for the company. This made Tier IV an affiliated company of Sompo Holdings, aligning with strategic investments in mobility and decarbonization technologies. The 2020 investment was part of Tier IV's funding trajectory, with cumulative funds raised reaching JPY29.6 billion by 2022 after subsequent rounds. Sompo Holdings participated again in a 2022 Series B round with an additional JPY10 billion alongside Yamaha Motor and new investor Bridgestone Corporation, totaling JPY12.1 billion for that round. Tier IV has raised over $321 million across 8 funding rounds from 12 investors, including grants and series rounds up to 2023. The company has been active in investments, such as a corporate minority stake in Leo Drive in 2022, and received selections for government projects like NEDO's Green Innovation Fund for Level 4 automated driving research, projected at JPY25.4 billion over nine years from fiscal 2022. |
| Aug 2019 | Series A | Quanta Computer (lead) | $9M | - | Tier IV, a Japanese startup, received approximately $9 million investment from Quanta Computer in its Series A extension round on August 19, 2019. This Corporate Minority investment supported development of ECU-related technologies. The round is listed as Series A - II with no valuation or amount details beyond the investment figure in available records. |
| Jul 2019 | Series A | Sompo Japan Nipponkoa Insurance (lead); Yamaha Motor; Aisan Technology; Jafco Group; KDDI | $104M | - | Tier IV is a Japanese startup founded in 2015, specializing in autonomous driving technology, particularly the open-source Autoware autonomous driving OS. The company develops autonomous driving platforms, web services, system development kits, and provides training. It has achieved milestones like Japan's first Level 4 public road demonstration in 2017, launching the Autoware Foundation in 2018, and 5G remote autonomous driving trials in 2019. Headquartered in Nagoya, Tier IV focuses on commercializing ridesharing and logistics services using autonomous vehicles. In July 2019, Yamaha Motor announced additional investment in Tier IV to strengthen low-speed autonomous driving capabilities, aligning with the approximate April/July 2019 timeframe and investors including Yamaha Motor. A PR Newswire mention confirms Tier IV raised over $100 million in a Series A round around this period, likely the Series A - II noted in other sources on 8/19/2019 or related. Total funding across rounds exceeds $300M by 2023, with later Series B in 2022 and grants. Tier IV continues advancing open-source autonomous tech, investing in partners like Taiwan's Turing Drive in recent years for Asia-Pacific deployment in logistics and industrial settings. |
| Mar 2018 | Undisclosed stage | UTEC-The University of Tokyo Edge Capital Partners; SPARX Group; Jafco Group; KDDI; Axell; Sony Innovation Fund | $28M | - | - |
| Sep 2017 | Strategic investment | Yamaha Motor; Aisan Technology | $800K | - | - |
Who has invested in Tier IV?
13 investors have backed Tier IV across its funding rounds, including Yamaha Motor, Jafco Group, KDDI, Sompo Holdings, Aisan Technology and UTEC-The University of Tokyo Edge Capital Partners.
Lead investors include Toyota Invention Partners, Sompo Holdings, Quanta Computer and Sompo Japan Nipponkoa Insurance.
Tier IV Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Sep 2017 | ||
| 2 | Participant | Sep 2017 | ||
| 2 | Participant | Mar 2018 | ||
| 2 | Participant | Mar 2018 | ||
| 2 | Lead | Aug 2020 | ||
| 1 | Participant | Mar 2018 | ||
| 1 | Participant | Jul 2022 | ||
| 1 | Participant | Mar 2018 | ||
| 1 | Lead | Aug 2019 | ||
| 1 | Lead | Jun 2026 | ||
| 1 | Lead | Jul 2019 | ||
This data is available for Pro users. Sign up to see all 13 Tier IV investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by Tier IV
Tier IV has invested in 4 companies to date.
Latest investment by Tier IV was on December 16th 2025. Tier IV invested in Turing Drive in their Strategic investment round.
Latest Investments by Tier IV
| Description | Turing Drive is a Shanghai-based autonomous driving technology provider emphasizing human-machine collaboration. The company develops systems that boost mobility efficiency, reduce operational costs, and elevate user satisfaction through intuitive interfaces and reliable Level 4 autonomy for urban and highway environments. | - | Leo Drive is a Tel Aviv-based autonomy software provider founded in 2015. The company develops full-stack solutions for software-defined vehicles, encompassing HD mapping, sensor fusion, localization, perception, path planning, and hardware integration. Products support L2+ to L4 autonomy levels for passenger cars and shuttles. Leo Drive collaborates with OEMs in Europe and Asia, validating systems through millions of simulated kilometers. | OPTIMIND is a technology venture originating from Nagoya University that specializes in combinatorial optimization for logistics planning. The company develops software to solve vehicle routing problems, determining optimal assignments of vehicles to destinations, sequences, and orders using machine learning, statistics, and advanced algorithms. Headquartered in Japan with operations in India, OPTIMIND targets delivery and supply chain efficiency for e-commerce and transportation firms. Its solutions integrate with existing fleet management systems to minimize travel time and fuel consumption. Founded through university-industry collaboration, OPTIMIND serves clients in Asia, including logistics providers handling millions of parcels annually. |
| HQ Country | ||||
| HQ City | Taipei | - | Istanbul | Nagoya |
| Deal Date | 16 Dec 2025 | 12 Mar 2025 | 20 Oct 2022 | 1 Jun 2018 |
| Round | Strategic investment | Series B | Seed | Strategic investment |
| Raised | undisclosed | $7M | $900K | $900K |
| Investors | - | Yamaha Motor | - | Terrada Warehouse |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Tier IV investments and their VC round multiples. Start Free Trial | ||||
Tier IV Competitors
Tier IV competitors include listed companies like Hesai Technology and Innoviz, and private ones like Kuandeng, Banma Network Technologies, Point One Navigation and Qianxun Spatial Intelligence.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $402M | - | ||
| Private | $125M | - | $1B | 8.0x | ||
| Private | - | - | $230M | - | ||
| Private | - | - | $1.8B | - | ||
| Publicly listed | $451M | $71M | $2.7B | 3.1x | ||
| Publicly listed | $55M | ($62M) | $96M | 1.3x |
Tier IV Public Comps
Tier IV is still privately-owned, but its public comps include TomTom, SuperMap, CE Info Systems, Elsight, People & Technology, Kodiak AI, Queclink, Serve Robotics, SaverOne and Swarmer.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $639M | $18M | 0.5x | 0.5x | 18.5x | 6.6x | |||
| $225M | $26M | 2.6x | 2.6x | 22.1x | 23.7x | |||
| $49M | $20M | 9.6x | 8.7x | 23.3x | 23.5x | |||
| $23M | $6M | 30.7x | 15.3x | 117.5x | 34.5x | |||
| $542M | $77M | 1.2x | 1.2x | 8.8x | 11.5x | |||
| $4M | ($577M) | 233.9x | 98.7x | (1.5x) | (6.6x) | |||
| $133M | $12M | 4.8x | 4.2x | 51.7x | 29.5x | |||
| $3M | ($104M) | 55.5x | 19.3x | (1.4x) | (1.0x) | |||
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Common questions about Tier IV
| When was Tier IV founded? | Tier IV was founded in 2015. |
| Where is Tier IV headquartered? | Tier IV is headquartered in Tokyo, Japan. |
| Is Tier IV publicly listed? | No, Tier IV is a private, VC-backed company. |
| What is Tier IV's valuation? | Tier IV was last valued at $626M in its undisclosed-stage round in June 2026. |
| How much funding has Tier IV raised? | Tier IV has raised $458M across 8 funding rounds. |
| What was Tier IV's last funding round? | Tier IV's last funding round was a $6M undisclosed-stage round in June 2026, led by Toyota Invention Partners. |
| Who are Tier IV's investors? | Tier IV's investors include Yamaha Motor, Aisan Technology, Jafco Group, KDDI, Sompo Holdings, UTEC-The University of Tokyo Edge Capital Partners, Bridgestone, SPARX Group, Quanta Computer, Toyota Invention Partners and 3 others. |
| Which companies are comparable to Tier IV? | Companies comparable to Tier IV include Kuandeng, Banma Network Technologies, Point One Navigation, Qianxun Spatial Intelligence, Hesai Technology and Innoviz. |
| How many companies has Tier IV invested in? | Tier IV has invested in 4 companies, including Turing Drive, eve autonomy, Leo Drive and OPTIMIND. |
| What was Tier IV's last investment? | In December 2025, Tier IV invested in Turing Drive's strategic investment round. |
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