Toyota has launched a new investment subsidiary with a $670 million budget to focus on mobility innovation. The subsidiary, which will operate under the name Toyota Ventures, aims to invest in early-stage startups and other companies working on cutting-edge mobility technologies.
The new subsidiary is part of Toyota’s efforts to expand its reach in the mobility sector, which is rapidly evolving with advancements in autonomous driving, electrification, and shared mobility. Toyota Ventures will invest in companies working on a range of technologies, including artificial intelligence, robotics, and the Internet of Things (IoT).
Toyota’s investment in mobility innovation is not new, as the company has already invested in several startups and ventured into partnerships with other companies to develop new mobility technologies. However, the launch of Toyota Ventures marks a significant escalation of the company’s investment efforts, demonstrating its commitment to staying at the forefront of the mobility sector.
The $670 million budget allocated to Toyota Ventures will be used to invest in around 20 to 30 startups over the next three years. The subsidiary will focus on early-stage investments, typically at the seed or Series A stage, with investment sizes ranging from $500,000 to $10 million.
Toyota Ventures will be led by Jim Adler, a veteran investor with a strong background in mobility and technology investments. Adler has previously worked with companies such as GM Ventures and Intel Capital, and has a deep understanding of the mobility sector.
The launch of Toyota Ventures is seen as a strategic move by Toyota to stay competitive in the rapidly evolving mobility landscape. By investing in early-stage startups, Toyota aims to gain access to new technologies and business models that can help the company expand its reach in the mobility sector. The investment subsidiary will also provide Toyota with a platform to collaborate with other companies and startups, fostering innovation and driving growth in the mobility sector.
Overall, the launch of Toyota Ventures demonstrates Toyota’s commitment to innovation and its determination to stay at the forefront of the mobility sector. With its $670 million budget and focus on early-stage investments, Toyota Ventures is well-positioned to drive growth and innovation in the mobility sector, and to help Toyota achieve its vision of a more mobile and connected future.