Friday, November 22

Tag: Toyota

Toyota Invests $394M in Flying Taxi Startup
17Jan By AnkitaNo Comments
Automobile, FUNDING

Toyota Invests $394M in Flying Taxi Startup

SANTA CRUZ, Calif., Jan. 17, 2020-- Toyota is exploring a new flight path for mobility through a new collaboration with Joby Aviation (Joby), an aerospace company that is developing and commercializing all-electric vertical take-off and landing (eVTOL) aircraft to enable the deployment of fast, quiet and affordable air transportation services. The collaboration reflects Toyota's recognition of the long-term potential of the urban air mobility market to meet the evolving needs of society, as well as Joby's position as an industry leader in working to deliver safe and affordable air travel to everyone. "Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky," said Toyota Motor Corpo...
Read More
Droom Raises Colossal Funding from Toyota
17May By Sheldan RungasamyNo Comments
FUNDING

Droom Raises Colossal Funding from Toyota

Droom, the automobile marketplace recently raised a Series D funding round of $30 million with Toyota Tsusho Corporation (TTC), daughter company of Toyota Group Corporation, leading the investment round. Existing investor Digital Garage and four additional new investors from Hong Kong also participated in the funding round. The deal is a memorandum of understanding with TTC to expand operations in overseas market, with Toyota’s inventory as primary asset for expansion. This is the fifth round of funding that Droom is benefitting from, amounting to a total of $95 Mn since its founding. The company is set for its IPO by 2019. The previous round of funding of Droom happened in July 2017 when it raised $20 Mn from Digital Garage and others. In June 2016, it raised $25 Mn from Beenext and...
Read More