Faction today announced an investment from TDK Ventures, Inc., a subsidiary of TDK Corporation (TSE:6762).
“Scaling driverless vehicle systems requires engineering from the chassis up,” said Faction CEO, Ain McKendrick. “We’re excited to partner with TDK Ventures to advance our vision of next generation transportation and leverage their broader corporate portfolio of technologies to accelerate our innovation on future vehicles.”
TDK Ventures’ investment follows a $4.3M seed round led by Trucks Venture Capital and Fifty Years after Faction participated in Y Combinator’s Winter 2021 startup batch.
Andrew Maywah, Investment Director at TDK Ventures said, "Faction’s technology architecture is designed with driverless systems in mind, which allows them to incorporate new technology radically faster than legacy vehicle platforms. TDK Ventures is excited to support and collaborate with Faction to accelerate the future of transportation."
Read more at Businesswire.