Mitsubishi Electric has unveiled its decision to make a follow-on investment of JPY2bn (US$18m) to fuel new growth in Dynamic Map Platform (DMP), a company which provides high definition 3D map data.
The additional investment will be used to fund the purchase of US-based Ushr by DMP, whose acquisition is subject to customary closing conditions pursuant to a definitive agreement between the parties, including receipt of regulatory approval and also to fund the growth of DMP’s North American operations.
In addition to Mitsubishi Electric, INCJ, an existing shareholder of DMP and Japan Infrastructure Initiative Company, will also invest in DMP during the round of funding.
Ushr is engaged in developing and providing high definition maps of roadways for autonomous driving and its high definition 3D map data was first launched in General Motors’ Super Cruise.
DMP was established in 2016 to develop, test and manage the common foundation (Cooperative Domain) data for high definition 3D roadway maps, necessary for autonomous driving and ADAS.
It is currently engaged in developing high definition 3D map data for Japan’s national expressways and limited access roads.