Japan-based automotive component manufacturer Toyoda Gosei announced yesterday that it will launch a ¥3bn ($26.3m) corporate venturing fund in January 2019.
Founded in 1949, Toyoda Gosei produces rubber and plastic parts primarily for the automotive industry, though it also makes products such as air conditioners and purifiers and LED lights.
The unit intends to spend the capital allocation over a two-year period and will invest in technologies that can complement Toyoda Gosei’s operations, including robotics, semiconductors, advanced materials and automotive components.
Toyoda Gosei is establishing the unit as part of a strategy it devised in May this year to take it through 2025, concentrating on innovation and new mobility and developing products such as such as an artificial muscle for robots and an interface system for autonomous cars.
