Woven Planet Holdings, a subsidiary of Toyota Motor Corp., has acquired Renovo Motors, to advance software development for autonomous vehicles.
The price and other terms of the deal were not disclosed.
This is the latest in a series of Woven Planet acquisitions since Toyota announced its creation in January 2021.
Earlier this year, the Toyota unit paid $550 million for the self-driving technology of ride-hailing service Lyft
. It also invested in Ridecell which provides automation for fleet businesses.
In another transaction, Woven Planet purchased Carmera Inc., a startup specializing in sophisticated road mapping updates by tapping into crowd-sourced information obtained from millions of Toyota vehicles.
Renovo forged its way onto the self-driving radar screen in 2015 when a team of Stanford engineering students programmed an electrified DeLorean to do donuts on a test track. But that’s not what Toyota and Woven Planet are interested in now.
“We are in awe with what the Woven Planet team has been building,” said Chris Heiser, Renovo co-founder and CEO, in a statement. I am very excited that Renovo is now officially part of the world’s largest automaker. In Woven Planet and Toyota, we’ve found partners committed to doing exactly what we have always wanted to do on a global scale, and that’s a great feeling.”
Renovo will maintain its office in Campbell, Calif., where it has a staff of about 30. But those people will be integrated into Woven Planet’s organization of about 1,240 employees.
“The acquisition of Renovo supports Woven Planet’s work in transforming worldwide mobility,” Nikos Michalakis, Woven Planet’s senior vice president of software platform, said in a statement. “A key part is to enable the most programmable vehicles on the planet, opening vehicle programming to everyone by simplifying software development.”
The reason Woven Planet wanted Renovo was its operating system that can run various apps that integrate automated driver assist systems, maps and other mobility services. The system, Aware OS, has been compared to Google’s
Android system that enable software developers to introduce new smartphone apps.
Woven Planet hopes that Renovo can enhance Arene, its open vehicle development platform still under development and slated for market introduction in 2025. The Toyota unit hopes that Renovo can help Arene work across multiple automakers’ platforms.