Toyota’s first VC fund investing in AI startups to refine everyday processes

TOKYO (Reuters) – Toyota Motor Corp’s first venture capital fund is investing in startups that help the Japanese automaker refine everyday processes by bringing sharper supply-chain management and robotics to the factory floor, a fund executive said. The Silicon Valley-based Toyota AI Ventures fund, with $200 million under management, has so far invested in 36 early-stage startups, including self-driving car software firm Nauto, factory video analytics company Drishti and air mobility firm Joby Aviation. Toyota, the world’s largest automaker by vehicle sales, and many car companies such as Volkswagen AG are funnelling money into startups to help gain an edge in artificial intelligence as investor interest shifts to self-driving cars. “We are at the edge of this Toyota ecosystem,” said Adler. (Reporting by Makiko Yamazaki and Maki Shiraki; Editing by Stephen Coates)Related article: Toyota taps AI start-up to jump start home robot plans

Read Full Article Here

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

NYOOOZ FRIEND

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Related Articles