Toyota Ventures

Toyota Ventures, founded in 2017, is Toyota’s first standalone venture capital firm based in Los Altos, California. Initially launched as Toyota AI Ventures, it rebranded in 2021 as Toyota Ventures, reflecting its expanding focus beyond artificial intelligence. The firm manages more than $500 million in assets across two key funds: the Frontier Fund and the Climate Fund.

The Frontier Fund invests in early-stage startups working in fields such as artificial intelligence, robotics, cloud computing, autonomous systems, mobility, smart cities, digital health, fintech, energy, and materials. The Climate Fund focuses on supporting innovative solutions for carbon neutrality, including renewable energy, carbon capture, hydrogen solutions, and electric vehicle technologies.

Toyota Ventures primarily invests in seed and early-stage companies globally, focusing on disruptive technologies and business models. The firm offers startups strategic support by leveraging Toyota's global expertise in areas like business development, product growth, fundraising, and executive coaching.

The firm’s approach is mission-driven and founder-first, seeking both financial returns and strategic value for Toyota. Entrepreneurs partnering with Toyota Ventures gain access to guidance and flexibility, ensuring they have room to experiment while receiving operational support.

In addition to its main team, Toyota Ventures works with an Advisor Network to help startups in diverse areas. As part of its commitment to innovation, the firm also promotes diversity, equity, and inclusion efforts within the venture capital industry.

Toyota Ventures has invested in over 108 companies across various sectors and geographies. Notable portfolio companies include Joby Aviation, Zeno, Apex, and Sea Machines. Toyota Ventures invites startups developing frontier and climate technologies to submit pitches for potential investment.

Toyota Ventures was founded in 2017 as Toyota AI Ventures, a subsidiary of the Toyota Research Institute, to discover and invest in early-stage technologies and startups that align with Toyota's future vision. The venture capital firm was created to help Toyota explore new technologies and business models that could complement the company’s core automotive business. Initially, the firm focused on artificial intelligence, autonomy, mobility, robotics, cloud technology, and data.

In 2021, the firm underwent a significant change, rebranding itself as Toyota Ventures. This name change reflected its broadened scope, which now included a focus on climate technologies. Alongside this rebranding, Toyota Ventures expanded its assets under management to over $500 million by adding two new funds: the Toyota Ventures Frontier Fund and the Toyota Ventures Climate Fund. The Frontier Fund continues to invest in the areas of artificial intelligence, autonomy, robotics, smart cities, digital health, fintech, and materials. The Climate Fund was created to support early-stage startups working on innovative solutions to achieve carbon neutrality, including technologies related to renewable energy, carbon capture, hydrogen solutions, electric vehicles, and sustainable materials.

Toyota Ventures’ role has been to seek out early-stage startups globally and support them with both funding and strategic guidance. The firm offers support in product development, business growth, fundraising, marketing, and executive coaching. The goal is to help these companies bring their technologies to market quickly, while also aligning with Toyota’s strategic interests. Toyota Ventures also emphasises diversity, equity, and inclusion in both its internal operations and its portfolio companies.

Over the years, Toyota Ventures has made significant investments in over 100 companies worldwide. Some of its key investments include companies like Joby Aviation, which is developing electric air taxis, and Zeno, which focuses on creating battery-as-a-service energy ecosystems for emerging markets. Other notable investments include Sea Machines, a company working on autonomous technology for boats, and Apex, a company that builds configurable satellite platforms.

In addition to funding, Toyota Ventures offers startups the opportunity to leverage Toyota’s deep technical expertise and global resources. This includes access to Toyota’s network and operational guidance in areas like business development and marketing. The firm has positioned itself as a strategic partner, looking to foster long-term relationships with the startups in which it invests.

In 2024, Toyota Ventures continues to actively invest in both frontier technologies and climate solutions. It is committed to identifying startups with high growth potential that can bring disruptive technologies to market. The firm also encourages startups to submit pitches through its online platform, and it remains focused on driving innovation in areas that will shape the future of mobility and sustainability.

Toyota Ventures has a clear investment criteria aimed at identifying and supporting early-stage startups with high growth potential in key technology sectors. The firm looks for companies developing disruptive technologies that align with Toyota’s strategic goals and global needs. Below are the key areas Toyota Ventures focuses on when selecting investments:

Stage of Company: Toyota Ventures primarily invests in seed and early-stage companies. These are startups that are still in the early phases of product development and scaling their business. The firm provides not just funding but also strategic support to help these companies grow.

Sectors of Interest:

• Frontier Technologies: Toyota Ventures, through its Frontier Fund, looks for startups working in fields such as artificial intelligence, robotics, autonomy, mobility, cloud technology, smart cities, digital health, fintech, energy, and advanced materials. The focus is on innovative technologies that have the potential to shape the future of industries like transport, urban living, and health.
• Climate Technologies: With its Climate Fund, Toyota Ventures invests in startups that are developing scalable solutions for carbon neutrality. This includes areas like renewable energy, carbon capture and removal, hydrogen technologies, electric vehicles, energy storage, and sustainable materials. The firm is committed to supporting technologies that can help reduce carbon emissions and combat climate change.

Global Reach: Although based in the San Francisco Bay Area, Toyota Ventures invests in startups from all over the world. The firm actively seeks entrepreneurs who are developing solutions for global challenges, regardless of location.

Founder-First Approach: Toyota Ventures prioritises working with founders who have strong leadership qualities and the vision to tackle difficult challenges. The firm values entrepreneurs with courage, humility, and a commitment to innovation. Startups that are founder-led and mission-driven are given preference, as Toyota Ventures believes that great leadership is key to success.

Strategic Fit: In addition to financial returns, Toyota Ventures looks for strategic value. Startups that align with Toyota’s long-term goals in mobility, sustainability, and future technology are highly favoured. The firm supports startups in areas that could potentially contribute to Toyota’s own operations and global growth.

Support Beyond Funding: Toyota Ventures offers much more than just financial investment. Startups in their portfolio receive access to Toyota’s technical expertise, global resources, and industry connections. The firm helps with business development, product growth, fundraising, marketing, and executive coaching, ensuring that startups are well-supported in their journey.

Diversity and Inclusion: Toyota Ventures is also committed to promoting diversity, equity, and inclusion within its portfolio companies and the wider venture capital industry. It values diverse teams and different perspectives, recognising that diversity drives innovation.

Long-Term Partnership: The firm seeks to build long-term relationships with the startups it invests in. Toyota Ventures focuses on adding value at every stage of a startup’s growth, from early development to market expansion. The relationship is built on mutual trust and the shared goal of bringing innovative technologies to market.

Toyota Ventures offers more than just financial investment to startups. Its value lies in providing comprehensive strategic support, leveraging Toyota’s global expertise and resources. Startups gain access to guidance in business development, product growth, marketing, fundraising, and executive coaching. Toyota Ventures promotes long-term relationships with founders, focusing on both financial returns and strategic value. The firm also promotes diversity, equity, and inclusion across its portfolio. Additionally, startups benefit from Toyota's deep industry knowledge, technical support, and global network, helping them grow and scale effectively while aligning with Toyota's long-term goals in mobility, sustainability, and innovation.

Toyota Ventures’ mission is to discover and support early-stage startups developing disruptive technologies that shape the future. The firm seeks to invest in innovations across artificial intelligence, autonomy, mobility, robotics, climate technologies, and more. By partnering with talented entrepreneurs worldwide, Toyota Ventures aims to accelerate the development of technologies that not only deliver financial returns but also align with Toyota’s strategic objectives. The firm is dedicated to fostering long-term relationships with startups, providing them with the funding, strategic guidance, and global resources needed to bring transformative ideas to market.

• Joby Aviation
  An electric vertical takeoff and landing (eVTOL) aircraft company focused on reducing urban congestion through an aerial ridesharing service.
• Zeno
  Zeno is building a battery-as-a-service ecosystem, starting in East Africa and India, offering a flexible charging infrastructure for electric vehicles.
• Apex.AI
  Develops reliable software for autonomous mobility systems, including Apex.OS, built on the Robot Operating System (ROS) for autonomous vehicle developers.
• Sea Machines
  Specialises in autonomous control systems for commercial surface vessels, enhancing maritime operations with advanced technology.
• AGORUS
  A construction technology company that uses software and assembly-line manufacturing to build residential homes more efficiently and affordably.
• Agtonomy
  Provides hybrid autonomy and tele-assist solutions to transform existing agricultural equipment into autonomous and remote-controlled machinery.
• Air Company
  A carbon technology company that converts captured carbon dioxide into carbon-negative alcohols, using a renewable energy-powered reactor.
• Alora
  Pioneers ocean agriculture by growing crops like rice on the ocean’s surface, addressing methane emissions and water scarcity in farming.
• AM Batteries
  Develops solvent-free electrode manufacturing solutions for battery and electric vehicle industries to reduce capital costs and environmental impact.
• Apex
  Builds satellite platforms for government and commercial sectors, using software-first approaches to scale production and streamline delivery.
• Arbon
  Innovates in carbon capture with its humidity-swing technology that uses water in the process, achieving enhanced energy efficiency.
• Artificial Agency
  Pioneers generative AI behaviour for gaming, enabling real-time decision-making integration into game mechanics for immersive experiences.
• Atomic Industries
  Automates tool and die making, streamlining production processes by introducing automation to traditional manufacturing workflows.
• AutoBrains
  Reimagines artificial intelligence for autonomous vehicles, improving performance, safety, and energy efficiency by mimicking human driving perception.
• Avalanche Energy
  Designs and builds micro-fusion reactors that provide modular, clean energy with a focus on decarbonising energy systems.
• Bipi
  A digital car-as-a-service platform offering flexible, all-inclusive car subscriptions, allowing users to swap or cancel vehicles as needed.
• Blackmore
  Develops Frequency-Modulated Continuous-Wave (FMCW) LiDAR sensors for autonomous vehicles, providing enhanced perception and detection capabilities.
• Boxbot
  A robotic platform for parcel logistics that reduces sorting costs and increases throughput with innovative storage and buffering systems.
• Brilliant Planet
  Unlocks the potential of algae to sequester carbon at scale, using open-air pond systems without relying on freshwater or nutrient-rich soil.
• Bumblebee Spaces
  A robotics company that creates efficient living spaces with ceiling-based fixtures and furniture to maximise room usage and functionality.
• BurnBot
  Develops mechanised fire prevention systems to increase the capacity for controlled burns and reduce the risk of wildfires near communities.
• Burro
  Provides autonomous robots for the agriculture sector, carrying payloads and navigating fields to increase farm productivity and labour efficiency.
• Carbice
  Produces Carbice® Carbon, a material that helps manage heat dissipation in electronic devices, energy systems, and industrial applications.
• Chef Jasper
  Combines computer vision, artificial intelligence, and robotics to create compact, automated kitchens capable of preparing restaurant-quality meals.
• CO280
  Develops large-scale carbon removal projects in partnership with pulp and paper industries, delivering carbon credits to the voluntary market.
• Cobalt Robotics
  Merges robotics and human operations for enterprise security, using robots to patrol facilities while a remote team manages security incidents.
• Common Sense Machines
  Builds 3D simulations of the world using machine learning, creating human-like 3D models of objects and environments at scale.
• Connected Signals
  Provides real-time, predictive traffic signal data to improve safety, fuel efficiency, and traffic flow using existing infrastructure.
• Drishti
  Offers AI-powered video analytics for factory floors, providing insights that increase productivity and extend human potential in manufacturing.
• Ecolectro
  Develops anion exchange membranes for green hydrogen production, eliminating the need for expensive platinum group metals in electrolyzers.
• Elementary
  Automates quality assurance in manufacturing using artificial intelligence and deep learning to deliver fast and reliable real-time judgments.
• Embodied
  Builds socially intelligent robots for emotional and cognitive learning, with the first product, Moxie, designed to assist children’s learning.
• e-Zinc
  Produces long-duration energy storage solutions using zinc metal, enabling renewable energy systems to scale with reliable storage.
• Freedom Robotics
  Provides software infrastructure for robotics companies, enabling them to build, operate, and scale autonomous systems across industries.
• Future Fields
  Uses insect biotechnology to produce biomolecules for scientific research, using fruit flies to create sustainable proteins for bioproducts.
• Haiqu
  Develops platform-agnostic technology that extends quantum hardware capabilities, enabling practical