Fund II of Silicon Valley-based Toyota AI Ventures is endowed with 100 million dollars. Fund I had already included around 100 million dollars. The company thus wants to profit from the agile start-ups: "As an OEM, we must be at the forefront of rapid change in the automotive industry. The long-term investment in start-ups gives us direct access to the latest innovations in the mobility sector so that we can investigate and evaluate them," says Jim Adler, Managing Director of Toyota AI Ventures. The start-ups are also Toyota's customers. "We want to build deep relationships with them, share their visions and develop common values. It's about building lasting partnerships," says Adler.
Jim Adler founded Toyota AI Ventures in July 2017 as a subsidiary of the Toyota Research Institute, where he worked as an Executive Advisor. Toyota AI Ventures has already invested in 19 start-ups.