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Faction raises next round of financing

TDK Corporation (TSE: 6762) announced today that subsidiary TDK Ventures is leading the latest round of financing in driverless-technology developer Faction. Currently joining them as co-investors are Ducera Partners, Trucks Venture Capital, and Fifty Years.

This latest round will be used to target customer expansion over the last quarter of 2023 and throughout 2024. Details are forthcoming. Faction has assembled an experienced team previously responsible for the launch of driverless vehicles ranging from light EVs to full-size semi-trucks. Its team is comprised of engineers experienced in AI, vehicle systems, vehicle safety, big data, sensors, hardware, V2V communication, logistics, and more.

Read the full press release here.