LOS ALTOS, Calif. (April 10, 2024) – Toyota Ventures, the early-stage enterprise capital arm of Toyota, introduced two $150 million funds to increase its investments in startups growing disruptive applied sciences and enterprise fashions on the forefront of innovation. The addition of the new funds, Toyota Ventures Frontier Fund II (TVFF II) and Toyota Ventures Climate Fund II (TVCF II), brings the agency’s whole property underneath administration to over $800 million.  

Since its founding in July 2017, Toyota Ventures has furthered its mission of serving to Toyota uncover what’s subsequent by investing in additional than 75 startups throughout areas starting from synthetic intelligence and robotics to hydrogen options and renewable power. Toyota Ventures is based mostly within the San Francisco Bay Area and has portfolio corporations in North America, Europe, the Middle East, and Asia-Pacific. With these new funds, the agency can help extra entrepreneurs all over the world as they sort out powerful challenges to construct a greater future for society and the planet.  

“At Toyota Ventures, we are explorers. Our role is to understand technology trends that could advance Toyota’s mobility transformation in the near term and embrace the next generation of disruptive innovation in the long term,” mentioned Jim Adler, founder and normal companion of Toyota Ventures. “At a time when some investors have scaled back, we’re scaling up by doubling down on our initial Frontier and Climate Funds. With seismic breakthroughs in generative AI, e-fuels, space commercialization, carbon capture, and synthetic biology, it’s a crucial time to be investing for Toyota.”  

TVFF II will deal with startups on the slicing fringe of deep know-how in areas like AI, robotics, mobility, cloud, and quantum computing, with a watch in direction of increasing Toyota Ventures’ worldwide presence. The new fund shall be led by Frontier Fund companion David Sokolic, a veteran investor and working government. Portfolio corporations within the preliminary Frontier Fund embrace satellite tv for pc servicing supplier Starfish Space, biosensor maker Scentian Bio, and quantum computing software program startup Haiqu, amongst others.  

TVCF II will search out startups growing sensible, scalable options that fight local weather change and promote environmental sustainability. It will construct on the agency’s inaugural climate-focused fund, which launched in 2021 and grew to a portfolio of 18 corporations underneath the management of Climate Fund companion Lisa Coca. The first Climate Fund portfolio contains corporations in renewable power like Avalanche Energy; power storage and batteries like e-Zinc and AM Batteries; carbon seize, removing and utilization like Air Company and Living Carbon; hydrogen options like Ecolectro; and different areas aligned with Toyota’s carbon neutrality targets.  

“Innovation is a team sport, and today, more than ever, it’s important for leaders like Toyota to collaborate with up-and-coming startups to take on the critical challenges we all face in a rapidly evolving world,” mentioned Gill Pratt, chief scientist of Toyota Motor Corporation, CEO of TRI, and board member at Toyota Ventures. “These new funds underscore our dedication to supporting entrepreneurs who are pushing the boundaries of what’s possible, and I’m thrilled to continue this journey alongside the Toyota Ventures team and portfolio.”  

Going past capital, Toyota Ventures goals to leverage Toyota’s international community, deep technical experience, and strategic partnerships to help startups in its portfolio. It has a portfolio help workforce devoted to offering steering in product and enterprise improvement, fundraising, advertising and marketing, and different areas to assist corporations scale successfully. Some of the agency’s early portfolio corporations that proceed to companion with Toyota embrace aerial ridesharing pioneer Joby Aviation and autonomous car chief May Mobility.  

Entrepreneurs searching for early-stage funding are invited to be taught extra and submit an internet pitch on the Toyota Ventures website.  

Supporting quotes and testimonials  

“The team at Toyota Ventures has been instrumental in our growth, having gone above and beyond by not simply offering capital support but also their mentorship in navigating various challenges and paving pathways into Toyota as an early customer,” mentioned Dor Skuler, co-founder and CEO of Intuition Robotics.  

“Toyota Ventures has been a committed strategic partner to Revel since 2018, working with us hand-in-hand as we expanded our business into all-electric rideshare and public fast charging infrastructure in dense cities like New York,” mentioned Frank Reig, co-founder and CEO of Revel. “Beyond financial investments, Toyota Ventures has been essential in creating new relationships to support and develop our mission — the best kind of partner a founder can ask for.” 

“The Toyota Ventures team had a deep level of understanding and appreciation of the technical aspects around the large problems we are solving in the green hydrogen space,” mentioned Gabriel G. Rodríguez-Calero, co-founder and CEO of Ecolectro. “On top of this, the level of guidance we received was well beyond the technical aspects of our business, and it has created enormous value for Ecolectro. Toyota Ventures’ unique approach and engagement shows the holistic support they provide around our whole business beyond just capital.”  

“AM Batteries has experienced significant growth over the past year, thanks in no small part to the invaluable support from Toyota Ventures, “ said Lie Shi, CEO of AM Batteries. “In the time we’ve been working together with Lisa Coca and her team, it has become clear that Toyota Ventures possesses a deep understanding of how corporate venture capital can effectively cultivate successful alliances with startups. Their insight, financial backing, and partnership have been pivotal as we chart the course for AM Batteries’ future endeavors.”

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