Toyota leads $14m funding round for Israel’s Intuition Robotics

A visitor is reflected in a logo of Toyota Motor Corp at the company's showroom in Tokyo February 4, 2015. REUTERS/Yuya Shino

Intuition Robotics, an Israeli developer of artificial intelligence robots for use by the elderly, said on Tuesday it raised $14 million in an early stage funding round led by the Toyota Research Institute (TRI).

OurCrowd, iRobot, Maniv Mobility, Terra Venture Partners, Bloomberg Beta and other private investors also participated.

The investment in Intuition Robotics is TRI’s first outside investment in robotic technology specifically for older adults.

Intuition Robotics’ product, ElliQ, is being developed to promote an active lifestyle, with the goal of helping older adults benefit from technology that is easy to use, the company said.

“We believe Intuition Robotics’ technology in the field of cognitive computing has strong potential to positively impact the world’s aging population,” said Gill Pratt, chief executive of Toyota’s research institute.

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Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.