Turing raises 15.3 billion yen in its Series A first close

Turing Inc. has raised 9.77 billion yen in 1x non-participating preferred stock from multiple business companies, venture capital firms, and bank-affiliated CVCs, including GMO Internet Group, Inc. and DENSO Corporation, with co-lead investors JIC Venture Growth Investments, a government-affiliated fund, and Global Brain, an independent venture capital firm. Additionally, with Mizuho Bank as arranger, the company has secured a syndicated loan of 5.5 billion yen from multiple banks and financial companies, bringing the company’s first close of Series A funding to a total of 15.27 billion yen.

Turing is a startup developing fully autonomous driving. By simultaneously developing an end-to-end autonomous driving AI that handles everything from environment recognition to route planning and driving control with a single AI, and a large-scale infrastructure model that understands the common sense, background, and context of human society, Turing aims to realize “fully autonomous driving” by integrating these two technologies, in which the car will operate the car in place of a human driver under all conditions.

The funds raised this time will be used to expand the computing infrastructure, strengthen the business structure for social implementation, and recruit personnel, primarily ML engineers, to accelerate the above efforts.

Also Read: Siemens and IFS forge strategic Autonomous Grid alliance

Turing will continue to strengthen both research and development and business development, aiming to realize fully autonomous driving in Japan and implement it in society.

SOURCE: PRTimes