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TOKYO, Oct 19, 2021 - (JCN Newswire) - Woven Capital, L.P., the investment arm of the Woven Planet Group, a Toyota subsidiary that is dedicated to building the safest mobility in the world, today announced that it has made an investment in UP.Partners' newly launched $230M venture capital fund. The fund is dedicated to supporting early-stage companies that are transforming the moving world. UP.Partners' focus is well aligned with Woven Capital, which is an $800 million global investment fund that supports innovative, growth-stage companies in mobility, automation, artificial intelligence, data and analytics, connectivity, and smart cities.
"Transforming mobility through technology is central to the mission of Woven Planet, and UP.Partners' investment strategy is in complete lockstep," said Betty Bryant, Principal, Woven Capital. "Woven Capital is excited to invest in UP.Partners' fund as they encourage entrepreneurs who are focused on wide-ranging solutions that allow people, goods and information to move more seamlessly, cost-effectively, and sustainably than ever before, benefiting humanity and the health of the planet for all."
"The investment from Woven Capital is a significant endorsement of our unwavering commitment to the future of mobility," said Ben Marcus, Co-Founder & Managing Partner, UP.Partners. "We see artificial intelligence, advanced sensors, edge computing, fuel cells, batteries, additive manufacturing, and other emerging technologies serving as the foundation of a new era of transportation--one that is cleaner, faster, lower cost, and more accessible for all."
UP.Partners has already made ten investments to companies including leading flight autonomy company Skydio, manufacturing quality assurance leader UnitX, and electric vertical aircraft developer Beta Technologies.
About Woven Capital
Woven Capital is an $800 million global investment fund that supports growth-stage companies focused on technology and innovation in mobility. It was founded in 2021 as the corporate venture capital investment arm of the Woven Planet Group, a group of subsidiaries of Toyota. Woven Capital invests in mobility technologies, automation, artificial intelligence, data and analytics, connectivity, and smart cities globally.
About Woven Planet Group
Woven Planet Group represents a carefully curated blend of expertise and resources dedicated to bringing the vision of "Mobility to Love, Safety to Live" to life. Through innovations and investments in automated driving, robotics, smart cities, and more, we are transforming how humankind lives, works, and moves. We exist to design, build, and deliver secure, connected, and sustainable mobility solutions that benefit all people worldwide. Founded in 2018 as Toyota Research Institute - Advanced Development ("TRI-AD"), Woven Planet is composed of four complementary companies: Woven Planet Holdings, Woven Core, Woven Alpha, and Woven Capital.
For more information, please visit: https://www.woven-planet.global/
About UP.Partners
Transportation is the underlying fabric of society. UP.Partners invests in the pioneering entrepreneurs who are creating the key enabling technologies that help move people and goods cleaner, faster, safer, and more efficiently--in a multi-dimensional world. We partner with some of the world's most innovative investors and companies--including Alaska Airlines, ARK Invest, and Woven Capital, the investment arm of Toyota subsidiary Woven Planet Group--and via the UP.Summit convene the mobility community's brightest minds each year to help humanity go UP. Together we are transforming the moving world. For more information, visit UP.Partners or follow us on Twitter @UpPartnersVC or LinkedIn.
Contact:
Woven Planet Holdings, Inc.
pr@woven-planet.global
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
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From the Asia Corporate News Network
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