(USA)

A new $100 million venture capital fund has been launched by Toyota Research Institute (TRI) to support startups advancing frontier technologies.

The Toyota AI Ventures fund – a venture capital subsidiary of TRI – based in Silicon Valley will work with early stage entrepreneurs spearheading new products in the areas of autonomous mobility, artificial intelligence, robotics, data and cloud technology.

Gill Pratt, CEO of TRI, said: “Toyota has a history of disruptive innovation in the service of mankind, moving from textile machinery to automobiles in the late 30s, to the broad electrification of the automobile with Prius in the 90s, to autonomous mobility and human-assist robots. 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.”

Click here for more details on the new fund.