Automobile giant Toyota announces to invest $100M fund for robotics and autonomous technologies. The Toyota AI Venture, a subsidiary to Toyota Research Institute will invest $100 million fund in the robotics and autonomous technology business. The Toyota AI Venture is in the early-stage of development in the robotics technologies.
From the days of its inception Toyota AI Ventures has invested in a diverse portfolio of 19 startups to develop unique solutions in AI and robotics field. This is the Fund II that brings the firm’s total assets under management to more than $200M. Company will invest this fund for own research and for supporting promising startups around the world.
These days more and more companies are working on the autonomous vehicle and artificial intelligence technologies to develop innovative solutions for their business. Now Toyota is ventured in this business and will work towards developing robotics technologies.
The company Toyota AI Ventures is a subsidiary of Toyota Research Institute which is will work the research and development of robotics technologies. Although Toyota AI Ventures is a startups that will work on these technologies. This company is an early-stage of robotics and autonomous technology development.
According to the Dr. Gill Pratt, chief executive officer at TRI and Toyota AI Ventures investment committee member, the automated system developed using AI and next-generation mobility technologies will improve the human lives.
Toyota AI Ventures was launched in 2017 and during this short span invested in 19 startups including Nauto, autonomous shuttle company May Mobility, social companion cognitive AI startup Intuition Robotics and Joby Aviation.
Toyota AI Ventures is focusing on the investing in the early-stage startups and its investments have been directed at companies applying AI, data and cloud technologies for development of innovative autonomous/mobility/ robotics solutions. Company is heavily investing the AI startups for innovating robotics solutions.
According to the company statement, company is looking for the early-stage startups for applying AI, data, and cloud technologies to build solutions that create new market opportunity. Company is looking for developing solutions using AI, cloud and robotics to take important problems.
Company has already invested in such early-startups for development of such solutions. Company invested in many companies including Elementary Robotics, Intuition Robotics, Joby Aviation, May Mobility, and Sea Machines to achieve its AI goal.
These days big companies like IBM, Microsoft, Amazon and many other are acquiring AI startups for enhancing technical capabilities of the company.
In the past we have seen any acquisitions by these companies.
These days AI, robotics, machine learning, deep learning and robotics are the top technologies used in the industry. Due to advancement of data processing techniques and availability of various machine libraries companies are moving towards developing next generation solutions.
