Honda R&D Innovations, the Silicon Valley laboratory of Japan-based carmaker Honda, has made investments in funds managed by four venture capital firms.
The company has formed partnerships with funds managed by 360 Capital Partners, a European VC focused on robotics, mobility and industrial innovation, and JB Nordic Ventures, a VC fund formed by BaltCap and Japanese government-backed JBIC IG Partners.
Honda R&D has also made investments in SOSV, a VC firm targeting startups in hardware, mobility, software, food and life sciences, and Yunqi Partners, a China-based VC that focuses on enterprise service, internet of things technology, robotics and mobility.
Honda Innovations is made up by two innovation programs called Honda Xcelerator and Honda Developer Studio. Xcelerator supports startups with funding, workspaces and mentoring, as well as access to Honda’s test vehicles and robotics prototypes.
Nick Sugimoto, Honda Innovations CEO, said: “Honda’s investment in venture capital firms will play a critical role in Honda Xcelerator’s support for global innovation ecosystems and innovators at all stages.
“These VC partnerships, along with our continued direct collaboration with select startups around the world, increase our ability to jumpstart new businesses and back early stage transformative technologies.”