Toyota AI ventures launches new $100M fund

Silicon Valley-based venture capital firm Toyota AI Ventures (TAIV) today announced Fund II, a new $100M fund dedicated to investing in early-stage startups developing disruptive technologies and business models in the autonomous mobility and robotics markets. Led by founding managing director Jim Adler, who also serves as executive advisor at the Toyota Research Institute (TRI), Toyota AI Ventures was founded in July 2017 as a subsidiary of TRI. In less than two years, Toyota AI Ventures has invested in a diverse portfolio of 19 startups. Fund II brings the firm’s total assets under management to more than $200M to invest in and support promising startups around the world.

“Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry,” said Jim Adler, Managing Director of Toyota AI Ventures. “Investing in startups creates long-term relationships that help Toyota explore the latest innovations in mobility.”

Toyota AI Ventures looks for early-stage startups, across a range of industries, that are applying AI, data, and cloud technologies to tackle important problems and create new market opportunities. Existing investments include such diverse companies as:

  • Elementary Robotics
    Developing robotics platforms to assist with automating everyday tasks
  • Intuition Robotics
    Creating social companion technologies using cognitive AI
  • Joby Aviation
    Pioneering an electric vertical takeoff and landing (eVTOL) passenger aircraft service
  • May Mobility
    Offering communities a Level 4 self-driving shuttle service
  • Sea Machines
    Building autonomous control and navigation systems for the maritime industry

Please click here to view the full press release.

SOURCE: Toyota

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