T2 Secures 5 Billion Yen in Pre-Series B Funding, Totaling Over 11 Billion Yen

T2 Secures 5 Billion Yen in Pre-Series B Funding

T2, a company headquartered in Chiyoda, Tokyo, led by CEO Masatomo Kumabe, has recently finalized its pre-Series B funding round, securing a total of 5 billion yen ($46 million) from nine different companies. This achievement brings the total funds raised by T2 to over 11 billion yen ($100 million).

Ever since its establishment in August 2022, T2 has been focused on addressing the pressing logistics crisis caused by the shortage of drivers, particularly in light of the impending "2024 Problem" in Japan. The company aims to launch its level 4 autonomous trucks for trunk transportation by 2027. Prior to this fundraising round, T2 had already raised approximately 6.07 billion yen through its pre-Series A and Series A rounds.

As T2 approaches its third anniversary, this pre-Series B round includes equity financing from companies such as Usami Koyu, NX-TC Lease & Finance, Environmental Energy Investment, Suzuyo Co. Ltd., Japan Post Capital, Fukuyama Transporting Co., Mitsui Sumitomo Insurance Company, Mitsui-Soko Logistics, and Mitsubishi Estate. This latest round of funding not only highlights renewed support from existing shareholders but also welcomes the participation of four new companies from various sectors, including transportation.

The proceeds from this funding will be directed towards expediting the deployment of level 2 autonomous trucks in commercial operations, set to commence in July 2025. T2 remains committed to its mission to be a driving force behind the future of the logistics industry by partnering with users and shareholders to advance the implementation of level 4 autonomous trucks in trunk transportation.

Comments from Investors

Usami Koyu

President Tomoya Usami stated, "We are delighted to participate in the development of trunk transportation services utilizing T2's level 4 autonomous driving technology, which is already showing many promising results. The Usami Group has a rich history of growth supported by numerous clients in the transportation sector, and we are committed to contributing to the advancement of Japan's logistics industry alongside T2."

NX-TC Lease & Finance

President Junichi Kobayashi expressed enthusiasm about joining the Pre-B round, aiming to tackle societal logistics issues through the autonomous truck operations pioneered by T2. "Our long-term vision focuses on creating new value through autonomous driving technology, and we look forward to collaborating with T2 and its shareholders to implement social solutions effectively."

Environmental Energy Investment

Principal Ryusuke Hayashi mentioned, "It’s very encouraging to see T2 making significant advancements in developing and deploying autonomous driving technology. As an impact investor, we expect T2's autonomous solutions to lead to increased efficiency, reduced costs, enhanced safety, and lower CO2 emissions in the logistics sector."

Suzuyo Co. Ltd.

President Kenichiro Suzuki said, "Given the looming fears of logistics stagnation due to a lack of truck drivers, we are excited to invest in T2's initiatives aimed at tackling these challenges through the advancement of autonomous driving technologies and supporting infrastructure."

Japan Post Capital

Senior Manager Shintaro Igata added, "The social implementation of autonomous technologies is a crucial theme for the future of logistics. We are committed to working with T2 to address serious issues like labor shortages and the construction of sustainable transport networks."

Fukuyama Transporting

President Hiroyuki Kumano affirms, "The logistics industry is undergoing a significant transformation, and T2's highly precise and practical autonomous driving technology will be key to supporting future logistics infrastructure."

Mitsui Sumitomo Insurance

Executive Officer Minako Sakuma stated, "After supporting T2 since Series A, we have seen their tangible advancements in technology and performance. Our additional investment aims to strengthen our collaboration further and contribute to solving logistics challenges."

Mitsui-Soko Logistics

President Teruo Ishikawa said, "Since joining in 2023, we have advanced business and technical development with T2, which reaffirmed our decision to invest further as their endeavors coincide with our logistics service aspirations."

Mitsubishi Estate

Logistics Facility Division Manager Yasushi Araki commented, "The core logistics facility concept we're developing depends on T2's ongoing technological advancements. We are excited to continue this partnership as the future of logistics approaches."

T2's CEO, Masatomo Kumabe

In addressing the recent round of funding, he expressed, "I am sincerely grateful for the support from our existing and new shareholders in securing 5 billion yen in pre-Series B funding. With your trust, we are determined to achieve level 4 autonomous truck trunk transport and uphold our mission to support the future of the logistics industry."

In summary, T2 is on a robust trajectory towards achieving its ambitious goals, with significant backing from institutional partners. The company remains relentless in its pursuit to revolutionize the logistics sector through innovative autonomous transport solutions.