Toyota to fast-track disruptive tech with Toyota AI Ventures

The California-based Toyota Research Institute (TRI) is investing an initial $100 million to launch Toyota AI Ventures, a new corporate venture capital subsidiary designed to provide early-stage financing to start-up technology companies.

TRI launches the venture by contributing initial investments in three technology companies: Nauto, Intuition Robotics and London-based SLAMcore.

SLAMcore is a team of experts in visual tracking and mapping systems, more commonly referred to as Simultaneous Localisation and Mapping (SLAM). It develops algorithms and ultimately all-in-one hardware/software SLAM solutions, optimised to work in real-time, under real-world conditions, and on affordable hardware such as mobile robotics, autonomous vehicles (including drones) and augmented/virtual reality systems.

The new Toyota AI Ventures subsidiary will also cultivate select start-ups by offering mentorship and on-site support at TRI’s Silicon Valley headquarters. Investment will focus in the areas of:

  • Artificial intelligence
  • Robotics
  • Autonomous mobility
  • Data and cloud technology

Toyota AI Ventures will offer TRI the opportunity to collaborate with talented entrepreneurs who prefer to work in a venture business environment.

“Toyota has a history of disruptive innovation in the service of mankind, moving from textile machinery to automobiles in the late 1930s, to the broad electrification of the automobile with Prius in the 1990s, to autonomous mobility and human assist robots,” said Gill Pratt, CEO of TRI. “TRI is growing quickly, and we recognise 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.”

Early-stage start-up investment is inherently high risk yet has the potential for high reward. So the new venture will feature quick decision-making by a dedicated management team of investment professionals and entrepreneurs, operating separately from TRI’s R&D operation. Unlike venture capital funds that exclusively identify investment targets by considering unsolicited pitches by entrepreneurs, this new venture will pursue a ‘call and response’ model, identifying key research challenges and then supporting the creation of new companies offering to solve them.

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

“We realise that we don’t have all of the answers. A lot of disruptive technologies come from start-ups 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.”

Toyota AI Ventures: initial investments

Toyota AI Ventures represents an expansion of TRI’s investment mandate and assumes TRI’s positions in three start-up investments:

SLAMcore, based in London, develops advanced algorithms designed to help technology platforms like autonomous cars, drones and AR/VR systems simultaneously build a map of their surroundings and position themselves within it. Critically, SLAMcore approaches this challenge with a core focus on power efficiency, a crucial factor for autonomous mobility applications given the need to maximise the power available for locomotion. TRI participated in SLAMcore’s seed financing in March 2017.

Based in Silicon Valley, Nauto provides a technology system designed for professional drivers and fleet managers. It monitors drivers and the road environment to prevent collisions, improve driver behavior, and learn from the diverse data shared across its smart cloud network. The Nauto device is packed with AI-powered sensors and mounted inside a vehicle’s windscreen, where it provides powerful visual context and collects data that can provide meaningful insights. TRI participated in Nauto’s $12M Series A financing in August 2016.

Israel-based Intuition Robotics is a leader in the development of social companion technology, including its ElliQ active-aging robotic companion. The company’s technology is designed to positively impact the lives of millions of older adults by connecting them seamlessly with family and friends, making technology accessible and intuitive, and proactively promoting an active lifestyle. TRI participated in Intuition Robotics’ $14M Series A financing in May 2017.

Leave a Reply

Your email address will not be published. Required fields are marked *

To be the first to hear about all of our latest news, offers and events, check the box below, we’ll send these communications by email, phone, SMS or post. Be assured that Toyota will only share your personal information with companies that are an integral part of fulfilling the services we deliver. If you would like to find out more about how we process your data please visit our privacy policy for details.

I understand that I can unsubscribe at any time.