Toyota's autonomous car, the Concept-i.
Toyota Investing $100M in Robotics and AI Tech Startups
Los Altos, Calif. – The Toyota Research Institute (TRI) is investing an initial $100 million to launch Toyota AI Ventures. This new corporate venture subsidiary will provide early-stage financing to robotics and autonomous car tech startup companies.
Three technology companies are the beneficiaries of the initial investment to launch Toyota AI Ventures. The three companies are Nauto, SLAMcore and Intuition Robotics.
“TRI is growing quickly, and we recognize the critical importance of expanding our collaboration with the world’s brightest entrepreneurial talent,” said TRI CEO Gill Pratt. “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.”
Toyota AI Ventures gives TRI the opportunity to better collaborate with entrepreneurs who prefer a venture-business environment.
TRI’s VP of data and business development, Jim Adler, will assume the role of managing director of Toyota AI Ventures. He says startups are crucial for developing innovative technologies.
“We realize that we don’t have all the answers. A lot of disruptive technologies come from startups, and we want to help them be successful,” Adler said. “One of the biggest challenges entrepreneurs face is knowing if they’re building the right produce 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.”
Initial Investments
Nauto
Silicon Valley-based Nauto is a logistics technology startup. The company develops systems for professional drivers and fleet managers. The systems monitor drivers and road conditions to prevent accidents, improve driver behavior and analyze data across its smart cloud network.
Nauto has developed a device that can be mounted on a drivers windshield. The system can provide visual context inside and outside the vehicle while collecting other meaningful data.
SLAMcore
Based in the United Kingdom, SLAMcore develops algorithms to help vehicles build a map of their surroundings and place themselves within it. The technology is crucial for platforms such as autonomous cars, drones AR/VR systems, and other autonomous mobility applications.
Intuitions Robotics
Israel-based Intuitions Robotics develops social companion technology. The company aims to positively impact the lives aging adults by connecting them with family and friends, making technology accessible and user-friendly, and promoting an active lifestyle.
Toyota created TRI in 2015 to strengthen the company’s research and development structure. Its initial goals are enhancing automobile safety, increasing access to cars to those who cannot drive, creating better mobility devices for indoors, and using artificial intelligence and machine learning to accelerate scientific discovery.
