Toyota-backed fund invests in Israeli auto chip venture
Autotalks raises $40m from multiple investors
TOKYO -- An investment fund backed by Toyota Motor has provided $5 million to Israel-based automotive chip startup Autotalks.
Autotalks develops chipsets for vehicle-to-everything, or V2X, communications. Its offerings are known to perform well even in bad weather and low visibility -- a quality seen as a must for ensuring safety in the coming age of self-driving cars.
The Toyota-backed fund is operated by Tokyo-based investment company Sparx Group. Venture capital investors from the U.S. and Israel, as well as one affiliated with Japan's Mitsui & Co., have also provided capital to Autotalks, which has raised $40 million in total.