Toyota's long industrial history involves a transition from making hand looms to producing trucks and cars. Now Ro Gupta, the new head of the company's Woven Capital investment arm, is on the lookout to see if a similar transformational opportunity lies ahead.
When Ro Gupta joined Toyota in 2021, he did so as a founder whose spatial AI startup, Carmera, had just been acquired by the Japanese automotive giant. Today, he finds himself at the helm of Woven Capital, Toyota’s $1.6bn growth investment arm, tasked with a mission that is as much about corporate reinvention as it is about financial returns. His appointment marks a significant shift in management style, bringing an "entrepreneur-in-residence" sensibility to a century-old industrial titan that is racing to redefine itself for a digital, decarbonised age.
From looms to lunar rovers
The name "Woven Capital" is no accidental piece of corporate branding; it is a direct nod to Toyota’s origins. While the world knows Toyota as a carmaker, the company’s roots lie in the Toyoda Automatic Loom Works, a business that celebrates its centenary this November. Gupta views this history not as a museum piece, but as a blueprint for survival.
"Going from a loom company to a car company was this huge transformation," Gupta explains. "Part of our raison d’être is to figure out, okay, is there another transformational opportunity for Toyota to do that again."
This drive for renewal is guided by ancient Japanese management concepts that Gupta has integrated into his investment thesis. One such concept is Jidoka, which translates to "automation with a human touch". Originating in the weaving mills, it describes machines that stop automatically when a thread breaks, preventing defects.
Today, Gupta applies this "human-centric philosophy" to physical AI and robotics, seeking partners that support rather than simply replace human skill in the plant or warehouse.
The nautical strategy of innovation
To describe Woven Capital’s role within the vast Toyota ecosystem, Gupta employs a nautical metaphor. He describes the parent company as a "super tanker" that requires "tugboats" and "speedboats" to navigate. Woven Capital acts as a speedboat, conducting "rapid missions" to explore new lands the big ship cannot yet see.
Gupta distinguishes between "inside out" innovation—where the venture arm supports areas where the parent company knows it needs to accelerate—and "outside in" innovation.
"A lot of times that ship doesn't even know what to ask for. They haven't seen these new lands yet," says Gupta.
This outward-looking approach has led Toyota into sectors far removed from the traditional driveway, including space technology. Through support for programs like JAXA’s lunar rover, Gupta believes Toyota can learn about communication and positioning technologies that will eventually support its 150 million terrestrial vehicles.
Beyond the four wheels
Under Gupta’s leadership, Woven Capital has crystallised its focus into four pillars: Build, Move, Power, and Connect. While "Build" (manufacturing) and "Move" (mobility) are hardcoded into Toyota’s DNA, the "Power" and "Connect" pillars represent the company’s expansion into the "electrons, flops and bits" that underpin modern industry.
Energy, in particular, has become a top-down strategic priority. Gupta has issued an "open call" for startups in areas such as safe, fast, clean generation, storage, and power electronics.
Maija Palmer
Maija Palmer is editor of Global Venturing and puts together the weekly email newsletter (sign up here for free).
