Toyota Woven Planet Acquires Renovo Motors

Toyota's Woven Planet Acquires Renovo Motors

Woven Planet Holdings, a subsidiary of Toyota, has completed its third acquisition within the past year, demonstrating a significant commitment to the advancement and commercialization of future transportation technologies, including automated driving systems.

Renovo Motors and its Technology

The latest acquisition involves Renovo Motors, a Silicon Valley-based developer of automotive operating systems. Renovo initially gained recognition in 2015 with a demonstration of a self-driving DeLorean, developed in collaboration with Stanford, showcasing its autonomous capabilities.

Financial details of the transaction have not been publicly released. Renovo will be integrated into Woven Planet’s existing team of 1,240 professionals, while maintaining its Silicon Valley location.

Strategic Importance of the Acquisition

Woven Planet’s interest in Renovo extends beyond the company’s initial demonstration of autonomous vehicle maneuvers. The core focus lies in Renovo’s vehicle operating system and its potential to accelerate Woven Planet’s ongoing development initiatives.

Renovo’s AWare OS is designed to facilitate the operation of applications within vehicles, specifically those related to automated driving, mapping, and various mobility services offered to passengers. This system functions similarly to Google’s Android platform, enabling app developers to deploy services within the automotive market.

It can also be likened to Amazon Web Services, offering on-demand cloud computing capabilities. This middleware is engineered for flexibility while maintaining robust security, providing a platform for external companies to deploy their software solutions.

Renovo's Role in the Autonomous Vehicle Landscape

Despite its relatively small size of 30 employees, Renovo’s operating system garnered attention within the autonomous vehicle industry. Several AV developers, including Voyage (later acquired by Cruise), recognized its value.

The company also successfully attracted investment from prominent entities such as Verizon.

CEO's Perspective on the Acquisition

Chris Heiser, co-founder and CEO of Renovo, explained that the company recognized the increasing importance of its intellectual property to automotive manufacturers. He stated, “We realized that to achieve substantial scale, we needed a partner with the resources and financial backing of a major automaker, capable of deploying our technology across millions of vehicles.”

Synergy with Woven Planet's Arene Platform

Woven Planet intends to leverage Renovo’s OS to enhance its own open vehicle development platform, Arene, with plans for its market launch by 2025.

Woven Planet's Broader Ecosystem

Woven Planet Holdings encompasses Toyota Research Institute – Advanced Development (TRI-AD), as well as Woven Capital, an investment division, and Woven City, a testing environment for innovative technologies.

Construction of Woven City, an interconnected smart city prototype, commenced in February at the Higashi-Fuji site in Susono City, Japan, near Mount Fuji.

Earlier this year, Woven Capital initiated its $800 million strategic fund with an investment in Nuro, a company specializing in autonomous delivery vehicles.