Toyota Ventures, rebranded from Toyota AI Ventures, has pledged to invest a total of $300 million (£212m) in emerging technologies and support its ambition to become carbon-neutral by 2050.
The addition of two $150 million (£106m) early-stage funds – the Toyota Ventures Frontier Fund and the Toyota Ventures Climate Fund – brings its total assets under management to more than $500 million (£354m).
The Toyota Research Institute subsidiary, founded in 2017, has invested in 38 companies so far, including artificial intelligence (AI), autonomy, cloud computing, data, mobility and robotics.
Through its Frontier Fund, Toyota Ventures will continue exploring these areas as well as expand it to include smart cities, financial technologies, materials, energy and digital health.
The new Climate Fund will focus on finding and funding early-stage start-ups that develop innovative solutions for achieving carbon-neutrality.
Entrepreneurs seeking funding are being invited to learn more and submit an online pitch on the company’s website.
Gill Pratt, Chief Scientist of Toyota Motor Corporation, CEO of Toyota Research Institute and Board Member of Toyota Ventures said: “At Toyota, we’re taking a diverse science-driven approach to addressing climate change and offering people many ways to lower their own carbon footprint.
“Part of our strategy includes partnering with talented entrepreneurs from around the world to help accelerate innovation in the startup community. We are tremendously excited about tapping into that talent through the Climate Fund.”