Woven Planet Holdings, a subsidiary of Toyota, acquired Renovo Motors, a startup that makes operating systems for autonomous vehicles. It’s the latest acquisition that aims to accelerate Toyota’s mission to develop autonomous vehicles with connected software. The terms of the deal were not disclosed.
Toyota established Woven Planet in January 2021 to invest in and develop mobility with artificial intelligence. Since then, the company has been on a shopping spree, acquiring Carmera, a firm that provides real-time, high-definition maps and data for driverless vehicles, and Lyft’s Level 5 autonomous vehicle division.
Renovo, which is based in Silicon Valley, makes operating systems that integrate all the software needed to run fleets of autonomous vehicles. Founded by Chris Heiser and Jason Stinson in 2010, Renovo has been involved in a number of interesting automotive projects over the years. There was the Renovo Coupe, a $529,000 electric supercar with 1,000 pound-feet of torque and a 0–60 time of 3.4 seconds, or its project to convert a DeLorean with an electric powertrain and then do autonomous donuts with it.