“This investment represents a long-term commitment from one of Japan's leading financial institutions and will supercharge our efforts to scale HD maps to non-highway roads,” said Chris Thibodeau, CEO and President of Ushr. “Ushr's HD map was the first-to-market in a production vehicle, and we intend to keep investing in additional road coverage in order to meet the future wants and needs of drivers and manufacturers alike.”
DMP and JOIN will establish a joint venture company in which DMP will invest up to $50.5 million and JOIN will invest up to $50 million. The joint venture company will contribute funds to Ushr, which over the past four years, proved that its highly-accurate HD Maps successfully support safety and performance criteria for luxury vehicles' ADAS systems in North America.
In addition to increasing HD map coverage, the investment from JOIN and DMP will be used to improve Ushr's abilities to detect and capture changes to roadways and to strengthen Ushr's software portfolio.
“Ushr has created the most expansive, highest-performing HD Maps for ADAS and autonomous driving in North America,” said Tatsuhiko Takesada, president and CEO of JOIN. “Together with DMP, we are aiming to further fuel Ushr's map coverage and enhance the scalability of its highly sought-after proprietary mapping database, bringing the best of Japan and the United States together.”
DMP completed its acquisition of Ushr in June of 2019, solidifying its position as the global leader focused on the development and deployment of HD mapping technology and solutions for the ADAS and AD markets.
“We understand that Ushr's HD Map requires continuous evolution in order to maintain its leading role in the North American market,” said Shuichi Yoshimura, CEO & President of DMP. “We are proud to support Ushr's growth through this most recent investment.”