Toyota launches $100m artificial intelligence venture capital unit
The Toyota Research Institute will invest an initial sum of $100m to create Toyota AI Ventures, a new subsidiary aimed at offering early-stage funding for technology start-ups. The venture will be powered by the investments that Toyota has already made into autonomous algorithm company SLAMcore, social companion tech provider Intuition Robotics and driver monitoring software creator Nauto. Start-ups chosen for mentorship and support will be in the AI, robotics, autonomous mobility, and data and cloud tech sectors.

TRI launches the venture by contributing initial investments it has made in three technology companies: Nauto , SLAMcore and Intuition Robotics . The venture will also cultivate select start-ups by offering them mentorship and support on-site at TRI's Silicon Valley headquarters. Investment will focus in the areas of Artificial Intelligence; Robotics; Autonomous Mobility; and Data and Cloud Technology.

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. —Gill Pratt, CEO of TRI

Early-stage start-up investment is inherently high risk, with 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 also 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.

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