LOS ALTOS, Calif. (May 2, 2019) – Silicon Valley-based venture capital firm Toyota AI Ventures announced a new $100 million fund dedicated to investing in early-stage startups developing disruptive technologies and business models in the autonomous mobility and robotics markets.
Toyota AI Ventures is a subsidiary of Toyota Research Institute (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.”
Founded in July 2017, 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.
With Fund II, Toyota AI Ventures will expand its search for talented entrepreneurs to invest in as part of its mission to help discover what’s next for Toyota.