Investing in the Future of MaaS~High-precision location information technology using existing sensors in the vehicle~
Hagiwara Electronics Corporation, through its subsidiary in the United States, Hagiwara
America, Inc., has invested in Sheeva, AI during their strategic round of funding. Throughthis investment, we will further accelerate our long- standing collaboration between Hagiwara
Electronics Corporation and Sheeva.AI.
Since 2019, we have been selling Sheeva.AI's software, which can calculate high-precision
location information using existing in-vehicle sensors, and providing a cloud environment forMaaS, while effectively utilizing the Group's ties with customers. Currently, we arecollaborating with Hagiwara America and other companies in North America, however ourgoal is to expand worldwide by collaborating with our other subsidiaries across the globe.
In many cases, vehicle based MaaS utilizes vehicle location information. Typically,information from the GPS installed in the vehicle is used, but the accuracy of the current GPS
is about 10 meters, which is not very high. Sheeva.AI has developed and patented a technology
to improve the accuracy of location information by utilizing data from multiple sensors alreadyinstalled in the vehicle, such as acceleration, in addition to GPS signals, and using a uniquealgorithm.

By using this technology, vehicles used for MaaS can increase their location accuracy by fivetimes with minimal software integration and without a large investment, enabling moreaccurate vehicle location and providing new services. For example, it is possible to easily

identify the parking location of a vehicle even in a vast parking lot. In addition, bycollaborating with a servicer of parking fee payment systems, troublesome transactions suchas identifying parking times can be processed automatically. Furthermore, in the U.S., whereself-service gas stations are the norm, this technology allows the driver to fill their tank andleave, with the payment being processed automatically.
Sheeva.AI can provide not only the software to make location information highly accurate, butalso the cloud environment (API) for MaaS servicers to utilize. This will also enable servicers
to quickly launch new services of value to users with minimal resources.
Evgeny Klochikhin, PhD, CEO and co-Founder of Sheeva.AI, had this to say about thecollaboration, “For Sheeva.AI, this partnership is a culmination of a long-standing
collaboration with Hagiwara America and Hagiwara Electronics, Japan. Our API platform forenabling payments and services for the connected vehicle market combined with Hagiwara'sextensive experience in the automotive industry is critical to adapting to and growing with theglobal market."Takeshi Soejima, President and CEO of Hagiwara Electronics said, "The automotive industry
is undergoing a major transformation, and new industries such as MaaS are emerging one
after another. This partnership with Sheeva.AI, which has excellent technology and afoundation in the MaaS business, is very important for us to grow globally.”
Hagiwara Electronics Corporation will continue to take on the challenge of new areas with avision of using this collaboration as an opportunity to expand its business in the MaaS domain.
【Company Profile】
Company name: Sheeva.AI
Location: Alexandria, Virginia, USA
Representative: Evgeny Klochikhin, PhD
Established: March 8, 2016
URL: https://www.sheeva.ai/
Business: Providing real-time vehicle position, secure ID, etc.
【Company Profile】
Company name: Hagiwara Electronics Co., Ltd.
Location: 2-2-1, Higashisakura, Higashi-ku, Nagoya, Aichi, 461-0005, Japan

Representative: Takeshi Soejima
Established: May 1, 2017
URL: https://www.hagiwara.co.jp/
Business: Sales of integrated circuits / semiconductors and general electronic components
Press contact: HEL_Support@hagiwara.co.jp