Sensible 4 has received an €8 million loan from the European Investment Bank. The loan is part of the European Guarantee Fund's liquidity provision for companies affected by the COVID-19 pandemic.
An Aalto University spin-off, Sensible 4 focuses on safe autonomous driving in all weather conditions and is the developer of the world’s first all-weather self-driving technology. The startup's technology uses a combination of sensors and Sensible 4’s SAE Level 4 full-stack autonomous driving software, which can convert any vehicle to self-driving.
The company will use EIB's loan to finalise its baseline product, pre-productions and mass-production targeting.
Sensible 4 opened an office in Japan this year, where they have run an autonomous driving shuttle pilot designed by Japanese lifestyle retailer MUJI.
Autonomous driving technologies are expected to help reduce traffic accidents and pollution and serve as a solution for public transport driver shortages in Europe.
Image: Sensible 4