Vehicle manufacturers know that they need to invent in autonomous technologies if they want to continue to remain relevant. As such, it should be no surprise that many car companies are investing in AI technologies to keep themselves competitive and relevant. Interviewed on an AI Today podcast episode, Jim Adler, Founding Managing Director of Toyota AI Ventures shared insights into the sort of investments Toyota AI Ventures is making in the industry, how the automotive industry is benefiting from these investments, and what non-automotive related AI and ML investments they are making. Founded in 2017, Toyota AI Ventures raised a $100 million fund to invest in artificial intelligence, cloud-based data, and robotics that may also leverage AI and cloud-based data. Toyota AI Ventures is a subsidiary of the Toyota Research Institute and helps AI ventures around the world to bring new artificial technology to the market.

Toyota announced creation of a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market. Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the said amount into early-stage startups that are developing "disruptive" technologies in those fields, the company said. Jim Adler, managing director of Toyota AI Ventures, said in a statement, "Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry." The company added that the fund is part of Toyota's mission is a futuristic "discover what's next" phase. Toyota's AI venture fund has already invested in 19 different start-ups over the last two years, bringing its total funding commitment to autonomous driving technology to $200 million, the company further stated. Toyota AI Ventures looks for early-stage startups, across a range of industries, that are applying AI, data, and cloud technologies to tackle important problems and create new market opportunities.

Toyota AI Ventures, a subsidiary of Toyota Research Institute, has a new $100 million fund that will focus on finding and investing in early-stage robotics and autonomous technology startups. This second fund, aptly dubbed Fund II, brings the firm's total assets under management to more than $200 million. "The growing interest in automated systems has created great opportunities to improve human lives using AI and next-generation mobility technology," said Dr. Gill Pratt, chief executive officer at TRI and Toyota AI Ventures investment committee member. Toyota AI Ventures is a newcomer to the scene. Still, it's managed to invest in 19 startups since launching in 2017, including Nauto, autonomous shuttle company May Mobility, social companion cognitive AI startup Intuition Robotics and Joby Aviation, the electric vertical takeoff and landing passenger aircraft service.

Silicon Valley-based venture capital firm Toyota AI Ventures today announced Fund II, a new $100 million fund dedicated to investing in early-stage startups developing disruptive technologies and business models in the autonomous mobility and robotics markets. Led by founding Managing Director Jim Adler, who also serves as executive advisor at the Toyota Research Institute (TRI), Toyota AI Ventures (TAIV) was founded in July 2017 as a subsidiary of TRI. In less than two years, Toyota AI Ventures has invested in a diverse portfolio of 19 startups. Fund II brings the firm's total assets under management to more than $200 million to support startups around the world. "Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry," stated Adler.

Today, Toyota AI Ventures in partnership with the Toyota Research Institute (TRI) is opening a "call for innovation" with the goal of throwing money at anyone with good ideas for "improving mobile manipulation technology for assistive robots that can help people in and around the home." Launched last year with US $100 million to spread around, Toyota AI Ventures has already started funding robotics companies, including Intuition Robotics and Realtime Robotics. While they seem to have not all that much trouble finding companies to give money to, this new approach is a bit more aggressive, perhaps with the aim of encouraging entrepreneurs who aren't sure whether or not they can get funding for a robotics startup to actually give it a try. Designed to spur entrepreneurial innovation by identifying key technology gaps, the initiative uses a call-and-response approach to offer promising startups the opportunity to secure from $500,000 to $2 million in venture capital funding from Toyota AI Ventures, as well as the possibility of partnering on a proof of concept project with TRI. The first call, developed in conjunction with TRI's world-class robotics group, focuses on improving mobile manipulation technology for assistive robots that can help people in and around the home.

It's been a busy year in delivery robot land. Starship Technologies sounded the starting gun to bring autonomous delivery vehicles to market with a $17.2 million round led by Daimler back in January 2017. Then in January this year the Mountain View, Calif.-based company Nuro raised the curtain on its own vision for robo-delivery with a whopping $92 million in funding. Meanwhile, upstart Robomart has its own notion for delivery vehicles that it unveiled at CES. And not to be outdone, everyone's favorite Chinese retail powerhouse, Alibaba, announced its own self-driving delivery vehicle.

Gill Pratt, chief executive officer of Toyota Research Institute, speaks at the 2016 Consumer Electronics Show in Las Vegas in January 2016. Toyota established a $1 billion Silicon Valley beachhead when it created the Toyota Research Institute in 2015 to focus on next-generation mobility, robotics and advanced materials. Now it's furthering that effort with a dedicated venture fund focused on innovative startups working on complementary tech solutions. The automotive giant on Tuesday launched Toyota AI Ventures, with initial funding of $100 million. The first three companies its backing are Israel-based Intuition Robotics; SlamCore of the U.K.; and Nauto, a Silicon Valley-based firm.

Toyota is the latest Fortune 500 company to launch an AI focused venture capital fund. The initial early-stage fund will deploy $100 million and operate as a subsidiary of the Toyota Research Institute. The automaker has strategically positioned itself as an ROI rather than strategic-focused fund -- meaning that it aims to profit like any other VC firm. Jim Adler will serve as managing director of the fund. He has been serving as vice president of Toyota Research and comes from a product background.