Toyota venture fund commits $100M to autonomy startupsby Justin King
The firm has already invested in 19 different startups.
Toyota's venture capital firm has announced a new $100 million fund dedicated to startups involved in automation and robotics.
Founded in 2017, Toyota AI Ventures has already invested in 19 different early-stage startups including several automated robotics companies, a self-driving shuttle service, and a company that builds autonomous control systems for the maritime industry.
"Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry," says Toyota AI Ventures managing director Jim Adler. "Investing in startups creates long-term relationships that help Toyota explore the latest innovations in mobility."
The venture firm provides capital and support resources to help startups achieve their long-term goals, allowing entrepreneurs to benefit from the Japanese automaker's technical expertise.
Toyota AI Ventures how has more than $200 million to invest in startups around the world.