June 26, 2017 1:11 am JST  (Updated June 26, 2017 5:31 pm JST)

Toyota-backed fund invests in Israeli auto chip venture

Autotalks raises $40m from multiple investors

An illustration of Autotalks' system for cars and motorbikes. (Courtesy of Autotalks)

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.

(Nikkei)

Toyota Motor Corp.

Japan

Market(Ticker): TKS(7203)
Sector:
Industry:
Consumer Durables
Motor Vehicles
Market cap(USD): 179,114M
Shares: 3,263M

SPARX Group Co., Ltd.

Japan

Market(Ticker): JAS(8739)
Sector:
Industry:
Finance
Investment Banks/Brokers
Market cap(USD): 401.84M
Shares: 209.56M

Mitsui & Co., Ltd.

Japan

Market(Ticker): TKS(8031)
Sector:
Industry:
Distribution Services
Wholesale Distributors
Market cap(USD): 25,917.5M
Shares: 1,796.51M

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.