Toyota’s Woven Planet acquires Renovo Motors
Woven Planet Holdings, a subsidiary of Toyota Motor Corp, has acquired Renovo Motors to help advance software development for autonomous vehicles.
Renovo’s operating system, Aware OS, is designed to run various apps that integrate automated driver assist systems, maps and other mobility services.
Woven Planet sees Renovo’s OS as a means to help commercialise its own open vehicle development platform, Arene, that it intends to bring to market by 2025.
Renovo, which will maintain its Silicon Valley office, will be integrated into Woven Planet’s 1,240-person operation. The price and other terms of the deal were not disclosed.
“The acquisition of Renovo supports Woven Planet’s work in transforming worldwide mobility,” said Nikos Michalakis, Senior Vice President of Software Platform, Woven Planet Holdings.
“A key part in delivering our ‘Mobility to Love, Safety to Live’ vision is to enable the most programmable vehicles on the planet – opening vehicle programming to everyone by simplifying vehicle software development and increasing deployment frequency without compromising safety and security.”
This is the latest series of Woven Planet acquisitions since Toyota announced its creation in January 2021.
Earlier this year, they paid $550 million for the self-driving technology of ride-hailing service Lyft. In another transaction, Woven Planet purchased CARMERA, a spatial AI company that develops scalable, next-generation mapping solutions.
“We are in awe with what the Woven Planet team has been building,” said Chris Heiser, Renovo co-founder and CEO.
“I am 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.”
8 October 2021