Category Archives: News

Mentha and SPC start partnership to accelerate International Growth Strategy

Mentha

Mentha has entered into an agreement with SPC Group to accelerate the company’s (international) growth. SPC specializes in protective coatings within the metal industry, serving a diverse and respected clientele in various sectors including energy, infrastructure, and industry. The Belgian company aims for faster international growth, both organically and through acquisitions, with the Netherlands as starting point. Besides international expansion, further expansion in Belgium remains on the agenda.

Since its establishment in 2021, SPC has become a successful specialist in industrial coating with nationwide coverage. Operating throughout Belgium with five strategic locations, the company has the capacity and expertise to serve customers, small and large, across various sectors, with various types of coatings, both on-site and at its own facilities.

With seven previous acquisitions, the service offering is significantly expanded, and the market position has been strengthened. Now is the time for the next phase, where SPC’s solid growth track is accelerated with Mentha’s support. International expansion is prioritized, with the Netherlands as initial focus.

Mentha has acquired a majority stake, while the founders and broader management team remain shareholders and responsible for the daily management and further expansion of SPC.

Anthony Demaerel and Yves de Mild, founders of SPC, are excited about the collaboration with Mentha. Demaerel said “We are very excited to continue our growth journey with Mentha in the coming years. With SPC, we have taken significant steps in Belgium in recent years and aim to actively expand our footprint in the Netherlands in the coming period.” De Mild added, “In addition to sector experience and a broad network in the Netherlands, Mentha shares the same no-nonsense approach and entrepreneurial culture as SPC.”

Ruben Stove, Mentha: “We are impressed by the expertise that SPC brings to the table, as well as the way they contribute to the professionalization of the conservation market. Regulations and associated compliance requirements are becoming increasingly strict, where scale and expertise only work in favor of players like SPC. In addition to the existing business, we see numerous growth opportunities that we want to realize together with the entire SPC team in the coming period.”

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Greenhouse Projects in Scandinavia

NPM Capital

Scandinavia has the potential to become a significant market for vegetable production in greenhouses. NPM participant KUBO, a leading supplier of high-tech greenhouses, has partnered with WA3RM to establish 200 hectares of modern greenhouses powered by residual heat from industrial processes. This collaboration aims to transform Scandinavia into a hub for vegetable production by utilizing large-scale industrial projects to develop greenhouses using waste heat. These initiatives are expected to significantly improve self-sufficiency in vegetables for Sweden and Scandinavia, potentially even turning them into net exporters.

Greenhouse Projects in Scandinavia

WA3RM has developed a circular model that makes it profitable to grow vegetables in colder climates by using residual heat from industrial production. Together with KUBO, WA3RM is working on a first greenhouse project in Sweden, covering approximately twenty hectares for tomato production, compared to the current forty hectares of greenhouse area for tomato production in the country. The growing demand for sustainably produced plant-based food drives this initiative, addressing global issues around food production such as water shortages and fossil fuel emissions. By partnering with KUBO, WA3RM gains access to decades of valuable expertise in building advanced greenhouses, ensuring a sustainable and efficient solution for vegetable cultivation.

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Clariti Secures US$18M Investment from Vistara Growth to Drive Digital Transformation in Government

Vistara Growth

Vancouver, April 10, 2024 – Vistara Growth, a provider of flexible growth capital to software and technology-enabled services companies, has invested US$18M in Vancouver-based Clariti Cloud Inc. (“Clariti”), the premier SaaS provider for permitting and licensing solutions to state, provincial and local governments in the U.S. and Canada.

The Company’s software allows local governments to improve productivity and service quality to citizens by streamlining and automating processes. Their fully digital end-to-end permitting platform takes an application through to issuance, enforcement, and management. Customers choose Clariti for their cloud capabilities, highly configurable platform with innovative features, and excellent security and scalability. Clariti’s software transforms permitting and licensing from slow, frustrating in-person and paper processes to modern, streamlined digital experiences, generating additional revenue for governments and vastly improving the constituent experience.

“Permitting and licensing are primary revenue drivers for local governments and Clariti ensures that their customers can deliver modern solutions to their citizens,” says Neil Kenley, Principal at Vistara Growth. “We have been able to see first-hand the benefits that Clariti can provide customers through the modernization of legacy systems. Clariti drives significant improvements in speed and ease of use for both government employees and the citizens who use their platform – all while reducing the overall cost of ownership for the provider.”

Across government technology, there’s been a growing need to modernize and upgrade legacy and on-premises systems. A software refresh cycle that picked up speed with the need for cloud deployments during the COVID-19 Pandemic, has continued to accelerate as governments increasingly recognize the power of SaaS solutions that benefit from ongoing development and new features.

Proceeds from the growth financing will primarily be used to expand Clariti’s go-to-market teams, build on relationships with system integrators and support an increased number of implementations as Clariti has continued to see meaningful new opportunities in the market. Additionally, the financing will further enable the development of additional features and support the integration of Camino, an innovative permitting technology provider acquired by Clariti in 2023.

Clariti Co-CEO, Cyrus Symoom commented “We are witnessing accelerated demand for digital government services, underscoring the critical need for innovative solutions to meet evolving citizen needs. In light of this, we are truly excited to partner with Vistara as we embark on the next phase of our company’s growth journey. Their reputation for creativity, thoughtfulness, and emphasis on a relationship-oriented approach seamlessly compliments our organizational values and strategic goals. This partnership marks a significant step forward in our commitment to innovation and client satisfaction, propelling us towards sustained growth and success.”

About Clariti

Clariti’s government software helps North America’s largest and fastest-growing communities deliver exceptional community development, permitting, and licensing experiences online. Founded in 2008, Clariti is built as an alternative to code-heavy, non-configurable systems that create technology barriers for governments to meet their community’s evolving needs. Governments should be able to dictate how their software works. To us, that means providing our customers with a system that’s maintained with clicks, not code, to relieve pressure on technical resources and better support citizens and staff. For further information about Clariti, please visit www.claritisoftware.com.

About Vistara Growth

Vistara Growth provides highly flexible growth debt and equity solutions to leading technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling growth for the ambitious entrepreneurs we invest in, our investors, our people, and the communities we operate in.  For more information, visit vistaragrowth.com

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ECI invests in travel management company, TAG

ECI

We’re pleased to announce our investment in TAG, the market leading high-touch travel management company to the entertainment and corporate markets. The deal provides an exit for Apiary Capital who have supported TAG since 2018.

TAG was founded in 1988 and now employs c.450 people across the globe. As an award-winning travel and event management company, TAG has redefined the standards for travel in the entertainment industry with specialists providing bespoke, high-end service to some of the biggest names in music, film and TV production as well as top C-suite and corporate executives.

 

Today is a fantastic milestone in our evolution, as we proudly announce the investment by ECI. With our entertainment and corporate clientele and the incredible TAG team, we are very confident that this partnership will deliver a host of new benefits and opportunities as we’re poised to elevate our standards even further, ensuring unparalleled service for our clients as we continue to shape the future of entertainment and high-end corporate travel management.”

Jens Penny

CEO, TAG

“We are excited to be partnering with TAG and leveraging ECI’s experience of investing in the travel industry to propel this global leader to new heights in the global entertainment and corporate travel markets. We are looking forward to working with the management team to continue innovating TAG’s service model, investing in technology and supporting the next stage of growth in its global footprint.”

George Moss

Partner at ECI

ECI announce close of latest fund

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Nordstjernan invests in Oden Technologies

Nordstjernan

Nordstjernan has invested in Oden Technologies (“Oden”), a leading data and AI software company servicing the manufacturing industry. Oden, with its main market in the United States, was founded in 2014 by Willem Sundblad and Peter Brand. Recognized as a leading niche player on the market for Industrial Analytics and AI, Oden has experienced high demand and adoption for its recently launched machine learning operator centric product, Process AI. The product creates prescriptive process recommendations to optimize operator runs in real-time.

In a market significantly impacted by digital transformation, Oden has the potential to enhance efficiency, deliver real-time decision making, and mitigate the risks associated with high operator turnover. This is particularly crucial for the manufacturing industry as workforce issues are continuously a primary challenge. The investment will support continued growth via customer expansion, continued investment in Process AI and the roll-out of additional AI products built for use by the machine operators.

 

The Series B investment round, led by Nordstjernan Growth, equals USD 28.5 million. Other new investors are Flat Capital, Recurring Capital Partners as well as Oden customer INX International Inc. Almost all existing investors participated in this round, including Atomico and EQT Ventures.

 

”We look forward to working together with Nordstjernan to continue to develop, grow and accelerate innovation at Oden Technologies as we enter a new phase and stage of maturity”, says Willem Sundblad, CEO and co-founder of Oden Technologies.

 

”Oden is a uniquely positioned and innovative company in a large growing market where we see considerable potential. We look forward to supporting the company in the long term”, says Torbjörn Folkesson, Head of Nordstjernan Growth.

 

The investment is made through Nordstjernan’s growth initiative, Nordstjernan Growth, and is the fifth holding in the Growth portfolio. As part of this round Nordstjernan becomes the largest owner and will be represented in Oden’s board.

 

Torbjörn Folkesson
Head of Nordstjernan Growth

 

Questions handled by:

 

Kajsa Andersson, Communications Manager Nordstjernan
Mobile: +46 72 230 87 65
E-mail: kajsa.andersson@nordstjernan.se

 

 

Nordstjernan is predominantly owned by the Axel and Margaret Ax:son Johnson Foundations. Since its establishment in 1890, Nordstjernan has owned and developed hundreds of companies in a range of industries. Today, Nordstjernan has investments in more than 20 companies in five sectors. Together, these companies have sales of SEK 120 billion and employ more than 50,000 people. Read more on www.nordstjernan.se.

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Guesty Raises $130M To Accelerate Global Expansion

KKR

Global investment firm KKR leading Series F funding round, with participation from Inovia Capital
–  Investment to drive continued global expansion through both acquisitions and organic growth, including broadening the enterprise-level offering to accommodate medium-term rentals, corporate housing, and fully-serviced stays

NEW YORK, April 10, 2024 /PRNewswire/ — Guesty, the leading property management software platform for the short-term rental (“STR”) and hospitality industry, today announced a $130M Series F funding round led by leading global investment firm KKR. Inovia Capital, together with existing investors Apax Funds, BDT & MSD Partners and Sixth Street, also joined the round, extending their support following Guesty’s significant expansion and sustained growth. This new round of funding will support continued development of Guesty’s best-in-class enterprise-level platform for property managers and drive market consolidation to grow the company’s global footprint. Stephen Shanley, Partner at KKR and Head of Tech Growth in Europe; Lauriane Requena, Principal at KKR Tech Growth, and Dennis Kavelman, Inovia Capital Partner, join Guesty’s Board of Directors following this investment.

The STR industry is growing rapidly and is currently valued at $277B. The significant shift in the way customers choose to live, work, socialize and travel, has led to growth in demand for STRs outpacing hotels in every quarter since 2022. To meet these consumer demands and the growth and complexity in the number of properties offered as short-term rentals, property managers increasingly utilize end-to-end property management systems, like Guesty.

Operating in over 80 countries, Guesty is the most comprehensive and easy-to-use platform on the market today. Guesty’s platform provides both enterprise and SMB property managers as well as individual hosts with the necessary tools to manage the entire rental journey, solving some of their biggest pain points. The company’s best-in-class software platform helps property managers advertise and manage their vacation or short-term rental properties, delivering unrivaled guest experiences through a highly intuitive user experience and open API capabilities.

Guesty’s new funding will be used for expansion across the US, enhancing vacation rental offerings with innovative features. Jonah Mandel joins as VP of Sales to lead the expansion. Additionally, Guesty will invest in catering to the European market, focusing on France, Germany, and Spain, while reinforcing its presence in Australia with customer tailored developments.

“Guesty is a best-in-class operator and one of the clear leaders in the property management sector. There has been a significant shift towards the short- term rental market and this investment will support the company as it continues to meet that growing customer need,” said Stephen Shanley, Partner and Head of Europe Tech Growth at KKR. Lauriane Requena, Principal with KKR Tech Growth added. “Guesty’s product is unique in its ability to offer the tools customers require throughout the management process, giving them an incredible platform to continue to expand. We’re pleased to have invested in the business to support this next phase of growth, as they look to the significant opportunity to grow the business internationally.

‘We have been thoroughly impressed with Guesty’s track record in consolidating the STR segment,” says Inovia Partner Dennis Kavelman. ”We are excited to further invest in this category as its importance in the travel sector continues to grow, and we are confident in Guesty’s position as one of the clear software leaders in this area.”

“Guesty has enjoyed astonishing five-fold growth during the last three years. We’re delighted that this has been recognized by top-tier investors KKR and Inovia, and we’re excited to have them onboard alongside our other investors as we enter our next growth period,” says Amiad Soto, Guesty’s CEO & Co-Founder. “The surge in those seeking short-term rentals continues and our platform remains at the vanguard of the industry. As we embark on creating the industry’s first intelligent property management platform, we’ll continue to develop its functionality and AI capabilities to deliver first-to-market features and best-in-class support for our customers.”

KKR is making the investment in Guesty primarily through its Next Generation Technology Growth Fund III, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise. The firm has executed several transactions as part of its tech growth strategy, including DarkTrace, KnowBe4, o9 Solutions, Onestream, OutSystems, NetSPI and Restaurant365.

About Guesty

Guesty is the all-in-one platform for short-term rental businesses to automate and optimize every aspect of their operations. With purpose-built technology, industry-wide expertise, and an R&D team of 250+ engineers, Guesty ensures that hospitality businesses can streamline and achieve growth while delivering the best value to guests. With a complete suite of features and 200+ industry partners, including major booking OTAs like Airbnb, Vrbo, booking.com, Tripadvisor, Expedia, Hopper, Google Travel, Home & Villas by Marriot, and many more, Guesty is transforming the short-term rental industry with innovative solutions. Today, Guesty has 15 offices and 750+ team members across the globe. For more information, visit guesty.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Inovia Capital

Inovia Capital is a venture capital firm that partners with founders to build impactful and enduring global companies. The team leverages an operator-led mindset to provide founders with multi-stage support, mentorship, and access to a worldwide network. Inovia manages over US$2.2B with operations in Montreal, Toronto, Calgary, Bay Area, and London. For more information, visit inovia.vc.

Media Contact:

Diane McKaye, Si14 Global Communications
GuestyPR@si14global.com

KKR
FGS Global
Alastair Elwen/ Jack Shelley
KKR-Lon@FGSGlobal.com

 

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Dawn Capital and Insight Partners back Spain’s data startup Onum with a $28m Series A

Dawn

The startup will use the money to expand to the US

Zosia Wanat

2 min read

Madrid-based Onum has raised a $28m Series A led by Dawn Capital — just seven months after its launch. The startup, which helps companies manage and monitor big datasets, will use the money to expand globally, mostly to the US.

What does Onum do? 

Onum’s mission is to help companies isolate and observe valuable information within large datasets in real-time.

According to the company, only about 15% of a typical organisation’s data is business-critical, requiring immediate analysis. Since most businesses have no way of discerning the valuable information from the noise, however, many organisations send all of their data to analytics platforms for analysis, resulting in higher costs and longer processing times.

Onum gives the example of a large bank that’s trying to enhance its IT network security capabilities and meet strict compliance requirements. The startup says it allows the bank to focus exclusively on the data that matters, so they can more accurately and cost-effectively detect security threats based on warning signs in their data across their whole network.

Unlike some of its competitors, Onum says it doesn’t only reduce the amount of data that a client needs to process, but can also tailor the service to individual business needs, such as risk reduction, compliance, customer usage, and network efficiency.

The startup was cofounded in October 2023 by Lucas Varela, Pedro Tortosa and Pedro Castillo, the latter of whom also founded cloud analytics and security platform Devo, valued at more than $2bn. It says it’s already won several enterprise customers including major financial institutions, global consulting firms and large telecommunications companies, mostly in Spain.

Where will the money go? 

Onum employs nearly 50 employees, and plans to use the fresh funding to accelerate product development and hire more people this year, opening a new office in Boston.

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Who has invested? 

  • Dawn Capital, London-based B2B software VC venture capital;
  • Kibo Ventures, Madrid-based VC;
  • Insight Partners, New York-based VC.

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Triton signs agreements to sell Norstat

Triton

Stockholm (Sweden) / Oslo (Norway), 10 April 2024 – The Triton Smaller Mid-Cap Fund I advised by Triton (“Triton”) has signed an agreement to sell Nemas Holdco AS (“Norstat” or “the company”), a leading data collector for market research, to Nalka Invest (“Nalka”), partnered with Kirk Kapital. Terms and conditions of the transaction are not disclosed. Closing is subject to customary regulatory approvals.

Since Norstat was acquired by Triton in 2019, it has been developed into a market-leading consumer data collection platform across Europe. Triton has, among other things, supported the company through strengthening its commercial capabilities, internationalising its business through acquisitions, improving its operations (including automation of processes), and adding new digital products and solutions such as Norstat Express and TestingTime. A total of seven strategic add-ons were completed by Norstat in Switzerland, Denmark, the Netherlands, Norway, and the UK from 2021 to 2023.

Today, Norstat serves more than 2,000 market research firms, private and public end-clients, media & advertising agencies, publishers, and consultancies across different industries. It delivers real data collected from real people across Europe that can be trusted to drive decision making.

Daniel Björklund, Investment Advisory Professional at Triton, said: “The team at Norstat have achieved great results and we are happy to conclude a very successful journey together. We have been able to drive significant growth, expanding Norstat’s offering and geographical reach, while continuously building on its strong commitment to quality and client service. We believe Nalka is the right partner to continue Norstat’s positive development and we wish them every success together.”

Erling Eriksen, CEO of Norstat, said: “Norstat and Triton have created and implemented a business strategy that has seen Norstat double in size the last years. Together we have built a bigger, stronger, and more professional company. During the years of Triton’s ownership, we have sought out new routes and opportunities; undertaken a rapid technological shift, launched several digital products and completed seven successful acquisitions and integrations. It’s been a great journey, made possible by fantastic employees dedicated to high-quality data and client service. In Nalka, we have found a new partner that is able to support us from the strong position we have achieved today, and we are very much looking forward to the co-operation”.

Martin Lagerblad, Managing Director, Nalka Invest said: “Norstat is truly a leading company within its market, that we have followed over time. We are impressed by the team and its position as the go-to provider of high-quality data and insights in Europe. The deal is pending regulatory approval, but we are looking forward to our future cooperation with Norstat and to contribute to the company’s development. We are also glad to partner with Kirk Kapital as a large minority shareholder, a strong partner sharing our values and long-term perspective on business development”.  

Norstat and Triton were advised by William Blair as lead financial advisor.

About Norstat
Norstat is one of the leading data collectors for market research and insight in Europe. We use well-grounded research methods to collect reliable data about any desired topic or target group. This information helps you to make the right decisions and become better in what you do. We don’t confine ourselves to a specific method of data collection – we do whatever works best: scientifically proven, fair to the respondents and sustainable for the industry.

The company was established in Norway in 1997 and has since grown its geographical presence to include Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Germany, the United Kingdom, France, Switzerland, the Netherlands, Austria and Italy.

For further information: www.norstat.co

About Triton 
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

For further information: www.triton-partners.com


About Nalka Invest
Nalka is an investment firm investing in market-leading small and medium-sized businesses based in the Nordic and DACH regions. Nalka has offices in Stockholm and Munich and develops independent, competitive, sustainable and long-term profitable companies, through commitment and cooperation.
Read more at www.nalka.com

Press Contacts

Triton

Fredrik Hazén

Phone: +46 709 483 810

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Apiary Capital exits TAG to ECI Partners

Apiary Capital

Apiary Capital exits award-winning travel firm TAG to ECI Partners, delivering a 4x return

Apiary to ECI

TAG is the leading travel management provider to the international live music and entertainment touring industry. Founded in 1988, TAG arranges complex travel itineraries for performing artists and supporting crews, and for major film and television productions, as well as servicing the high-touch segment of the corporate travel market.

Apiary Capital invested in TAG in April 2018 and has supported the management team in making eight successful acquisitions and expanding the business’s geographic footprint to 12 offices employing over 450 people across the UK and Aisa-Pacific.

Jens Penny, TAG CEO, commented: “Today is a fantastic milestone in our evolution, as we thank Mark, Jess, Nicki and all the team at Apiary for the unwavering help and support they have given us over the last six years and proudly announce the investment by ECI. With our entertainment and corporate clientele and the incredible TAG team, we are very confident that this partnership will deliver a host of new benefits and opportunities. We look forward to an exciting journey ahead with ECI as our partner.”

Mark Salter, Managing Partner at Apiary Capital, commented: “We are incredibly proud to have been part of the amazing journey that TAG has been on since our investment in 2018. Jens and his team have done a fantastic job expanding TAG into new geographies and markets, more than doubling the size of the business on the way. We are delighted to pass the baton on to ECI who are the right partner to take the business forward and support it through its next phase of growth.”

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Toyota Ventures Raises Another $300 Million to Expand Early-Stage Investments in Frontier Technology and Climate Solutions

Toyota Venture fund

Firm’s committed capital grows to over $800 million, underscoring Toyota’s commitment to investing in groundbreaking startups around the globe

LOS ALTOS, Calif. (April 10, 2024) – Toyota Ventures, the early-stage venture capital arm of Toyota, announced two $150 million funds to expand its investments in startups developing disruptive technologies and business models at the forefront of innovation. The addition of the new funds, Toyota Ventures Frontier Fund II (TVFF II) and Toyota Ventures Climate Fund II (TVCF II), brings the firm’s total assets under management to over $800 million.  

Since its founding in July 2017, Toyota Ventures has furthered its mission of helping Toyota discover what’s next by investing in more than 75 startups across areas ranging from artificial intelligence and robotics to hydrogen solutions and renewable energy. Toyota Ventures is based in the San Francisco Bay Area and has portfolio companies in North America, Europe, the Middle East, and Asia-Pacific. With these new funds, the firm can support more entrepreneurs around the world as they tackle tough challenges to build a better future for society and the planet.  

“At Toyota Ventures, we are explorers. Our role is to understand technology trends that could advance Toyota’s mobility transformation in the near term and embrace the next generation of disruptive innovation in the long term,” said Jim Adler, founder and general partner of Toyota Ventures. “At a time when some investors have scaled back, we’re scaling up by doubling down on our initial Frontier and Climate Funds. With seismic breakthroughs in generative AI, e-fuels, space commercialization, carbon capture, and synthetic biology, it’s a crucial time to be investing for Toyota.”  

TVFF II will focus on startups at the cutting edge of deep technology in areas like AI, robotics, mobility, cloud, and quantum computing, with an eye towards expanding Toyota Ventures’ international presence. The new fund will be led by Frontier Fund partner David Sokolic, a veteran investor and operating executive. Portfolio companies in the initial Frontier Fund include satellite servicing provider Starfish Space, biosensor maker Scentian Bio, and quantum computing software startup Haiqu, among others.  

TVCF II will seek out startups developing smart, scalable solutions that combat climate change and promote environmental sustainability. It will build on the firm’s inaugural climate-focused fund, which launched in 2021 and grew to a portfolio of 18 companies under the leadership of Climate Fund partner Lisa Coca. The first Climate Fund portfolio includes companies in renewable energy like Avalanche Energy; energy storage and batteries like e-Zinc and AM Batteries; carbon capture, removal and utilization like Air Company and Living Carbon; hydrogen solutions like Ecolectro; and other areas aligned with Toyota’s carbon neutrality goals.  

“Innovation is a team sport, and today, more than ever, it’s important for leaders like Toyota to collaborate with up-and-coming startups to take on the critical challenges we all face in a rapidly evolving world,” said Gill Pratt, chief scientist of Toyota Motor Corporation, CEO of TRI, and board member at Toyota Ventures. “These new funds underscore our dedication to supporting entrepreneurs who are pushing the boundaries of what’s possible, and I’m thrilled to continue this journey alongside the Toyota Ventures team and portfolio.”  

Going beyond capital, Toyota Ventures aims to leverage Toyota’s global network, deep technical expertise, and strategic partnerships to assist startups in its portfolio. It has a portfolio support team dedicated to providing guidance in product and business development, fundraising, marketing, and other areas to help companies scale effectively. Some of the firm’s early portfolio companies that continue to partner with Toyota include aerial ridesharing pioneer Joby Aviation and autonomous vehicle leader May Mobility.  

Entrepreneurs seeking early-stage funding are invited to learn more and submit an online pitch at the Toyota Ventures website.  

Supporting quotes and testimonials  

“The team at Toyota Ventures has been instrumental in our growth, having gone above and beyond by not simply offering capital support but also their mentorship in navigating various challenges and paving pathways into Toyota as an early customer,” said Dor Skuler, co-founder and CEO of Intuition Robotics.  

“Toyota Ventures has been a committed strategic partner to Revel since 2018, working with us hand-in-hand as we expanded our business into all-electric rideshare and public fast charging infrastructure in dense cities like New York,” said Frank Reig, co-founder and CEO of Revel. “Beyond financial investments, Toyota Ventures has been essential in creating new relationships to support and develop our mission — the best kind of partner a founder can ask for.” 

“The Toyota Ventures team had a deep level of understanding and appreciation of the technical aspects around the large problems we are solving in the green hydrogen space,” said Gabriel G. Rodríguez-Calero, co-founder and CEO of Ecolectro. “On top of this, the level of guidance we received was well beyond the technical aspects of our business, and it has created enormous value for Ecolectro. Toyota Ventures’ unique approach and engagement shows the holistic support they provide around our whole business beyond just capital.”  

“AM Batteries has experienced significant growth over the past year, thanks in no small part to the invaluable support from Toyota Ventures, “ said Lie Shi, CEO of AM Batteries. “In the time we’ve been working together with Lisa Coca and her team, it has become clear that Toyota Ventures possesses a deep understanding of how corporate venture capital can effectively cultivate successful alliances with startups. Their insight, financial backing, and partnership have been pivotal as we chart the course for AM Batteries’ future endeavors.”

About Toyota Ventures
Toyota Ventures is the early-stage venture capital arm of Toyota. Founded in July 2017, its mission is to discover what’s next for Toyota by helping startups bring disruptive technologies and business models to market quickly. With more than $800 million in assets under management, the firm is dedicated to investing in talented entrepreneurs around the world who are driving innovation in frontier technologies and climate solutions. For more information about Toyota Ventures and its portfolio companies, please visit www.toyota.ventures.

Media Contacts

Maggie Mouat
maggie@toyota.ventures

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