Mexican Media Brands
Toyota Doubles Funding for AI Startup Investments
Toyota Motor Corp. says its AI Ventures unit is launching a second $100 million fund to spend on startups in artificial intelligence, robotics, big-data and advanced mobility.
#robotics
Share
Toyota Motor Corp. says its AI Ventures unit is launching a second $100 million fund to spend on startups in artificial intelligence, robotics, big-data and advanced mobility.
AI Ventures operates through the Toyota Research Institute headquarters in Silicon Valley. The unit debuted its first $100 million fund in mid-2017.
Managing Director Jim Adler tells Automotive News that AI Ventures has so far invested in 19 companies, after reviewing the business plans of 1,500 potential candidates. He says the unit still has some funds remaining in its first round but wants to be ready for new opportunities.
RELATED CONTENT
-
Apple Reports its First Fender-Bender with Autonomous Car
Apple Inc. reports that one of its self-driving cars operating in autonomous mode was struck by another vehicle while inching into freeway traffic in California.
-
Kroger Tests Self-Driving Grocery Delivery Service
The Kroger Co. and Silicon Valley startup Nuro launched a pilot program for autonomous grocery delivery this week in Scottsdale, Ariz.
-
Report Predicts Limited Impact of Autonomous Tech on Professional Drivers
A new study says autonomous vehicles will displace some taxi drivers but have only a modest impact on the number of truck driver jobs over the next 10 years.
