Carmaker Toyota's research division has put $100m into a unit called Toyota AI Ventures and disclosed its first three portfolio companies.

Toyota Research Institute (TRI), the US-based research arm of Japan-headquartered car manufacturer Toyota, committed an initial $100m yesterday to a corporate venturing unit called Toyota AI Ventures.

The fund will target early-stage companies developing artificial intelligence, robotics, autonomous mobility, data and cloud technology, and some portfolio companies will benefit from support and mentorship at its Silicon Valley headquarters.

Toyota AI Ventures said it intends to also explore a ‘call and response’ approach that involves supporting the creation of new companies…

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