In the latest development, Finnish autonomous driving technology firm Sensible 4 has raised $7 million (approx €6.3 million) in their series A funding round that will see the company market expansion to Europe and Asia. The round was led by NordicNinja VC and ITOCHU, one of the largest Japanese trading companies.
The first phase of the investment round before commercial production is now completed. The total round is expected to double and to be completed by the summer.
Harri Santamala, co-founder and CEO of Sensible 4:
We are very proud to have such strong investors joining Sensible 4 as shareholders. We are still one of the only companies in this field that can drive autonomously in all weather conditions. With the investment, we will be able to develop the technology to a level that allows us to integrate this to commercial use.
The funding will be used to develop the software, and part further will be used to build more GACHA busses, which aims to enter the Japanese and Chinese markets at the end of the year.
If you are unaware, the Finnish startup specialises in autonomous driving software for demanding and harsh weather conditions. The company’s solution, which is first in allowing for self-driving in snow, fog, and heavy rain — has attracted growing attention from major automotive players since the startups’ inception in 2017.
Tomosaku Sohara, Managing Partners at NordicNinja VC:
Sensible 4’s approach based on their long-term research for autonomous driving is different from other existing approaches. Their unique technology enables any autonomous vehicle to drive anywhere and anytime.
In 2019 Sensible 4 released the autonomous shuttle bus GACHA in cooperation with Japanese retail company MUJI, which has sparked significant interest in Japan. In fact, GACHA has won the “GOOD DESIGN GOLD AWARD” – the number one recognition for design in Japan as well as the prestigious Beazley Designs of the year award in the Transport category at the Design Museum in London.
Main image credits: Sensible 4
Stay tuned to Silicon Canals for more European technology news