Toyota Invests $100 Million in Robotics, Autonomous Driving and Artificial Intelligence

In an attempt to bring disruptive technology to market faster, TRI is investing $100 million to launch Toyota AI Ventures. The automotive giant launched Toyota AI Ventures on Tuesday, 11^th of July. The new corporate venture capital subsidiary has been designed to support early-stage financing to start-up technology companies. TRI has launched this subsidiary with three technology companies: Intuition Robotics (Israel), Nauto (Silicon Valley) and SLAMcore (Great Britian).

Intuition Robotics is based in Israel and is a leader in development of social companion technology which includes its ElliQ active-aging robotic companion.

Nauto, based in Silicon Valley, provides a technology system which is designed for professional drivers and fleet managers.

SLAMcore is based in Britain. They develop leading algorithms designed to help technologies like autonomous cars, drones and AR/VR systems build a map of their environment as well as position themselves within it at the same time.

All these investments will be focused on Artificial Intelligence (AI), autonomous mobility, robotics and data and cloud technology. According to Toyota, the AI Ventures subsidiary will cultivate select start-ups by offering them teaching, mentorship as well as support on site at TRI’s headquarters in Silicon Valley.

“Toyota has a history of disruptive innovation in the service of mankind, moving from textile machinery to automobiles in the late 30’s, to the broad electrification of the automobile with Prius in the 90’s, to autonomous mobility and human-assist robots,” said Gill Pratt, CEO of TRI. “TRI is growing quickly, and we recognize the critical importance of expanding our collaboration with the world’s brightest entrepreneurial talent. This venture is a major step towards our mission to empower talented entrepreneurs who share Toyota’s commitment to enhancing the quality of human life.”

Different VCs mostly rely on unsolicited pitches from startups, while Toyota is using a “call and response” model which means identifying key research challenges and supporting the establishment of new companies by donating or offering to solve them.

Both sides profit from the situation: tech firms bring cutting-edge software and the ability to create and manage large data platforms, while, on the other hand, auto companies have expertise in large-scale manufacturing, regulatory areas and mechanical engineering.

TRI’s vice president of data and business development, Jim Adler, took the role of managing director of Toyota Ventures.

“We realize that we don’t have all of the answers. A lot of disruptive technologies come from startups and we want to help them be successful,” said Adler. “One of the biggest challenges entrepreneurs face is knowing if they’re building the right product for the right market. We can help them navigate that uncertainty, and we’re committed to doing so in a founder-friendly way because their success is our success.”

For more information on Toyota AI Ventures visit:   http://Toyota-AI.ventures.