Venture capital Mobility 54 invests in telematics insurance company AiCare

KENYA – Toyota Tsusho Corporation and its group company CFAO SAS is investing in AiCare Group Inc., a provider of telematics insurance system for insurance companies in Kenya. The investment will be engaged by Mobility 54 Investment SAS (“Mobility 54”), a corporate venture capital subsidiary of Toyota Tsusho group which was jointly established in October 2019, through the convertible notes investment. In Kenya, it is compulsory for every car-owner to subscribe motor insurances, and approximately 3 million vehicles are insured today, and insurance premium rates are generally determined based on…

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Toyota Tsusho establishes and acquires license for vehicle assembly business

GHANA – Toyota Tsusho Corporation has announced the establishment of Toyota Tsusho Manufacturing Ghana Co. Limited (TTMG), a vehicle production company, and acquired a license for a vehicle assembly business, a first for a Japanese company in Ghana. The new plant will be constructed in Tema (30 km from the capital city of Accra) at an investment cost of approximately US$7 million, and there are plans to hire approximately 50 new employees. Preparations are underway to commence operations in mid-2021. The planned production capacity of the new plant is 1,300…

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Kenyan mobility startup Data Integrated raises funding from Toyota Tsusho

KENYA – Kenyan startup Data Integrated which provides public service vehicles with bus management and digital ticketing systems, has raised an undisclosed amount of funding from the Toyota Tsusho Corporation. Founded in 2012, Data Integrated provides around 3,000 public service vehicles with access to bus management and digital ticketing platform, helping to make public transport systems in Kenya more efficient.  The startup has now raised funding to further scale with Toyota Tsusho and its group company CFAO investing through Mobility 54, established in October 2019 as a group joint venture between Toyota Tsusho and CFAO.…

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Google and Toyota invest in mobility startup to improve transport in developing countries

SOUTH AFRICA – Mobility startup WhereIsMyTransport, has raised a US$7.5 million funding round from investors including Google and Toyota for further global expansion. Formed in 2016, WhereIsMyTransport is a big data platform for sustainable mobility in emerging markets, which connects and collects data and integrates this information on its open data platform. Its products are used by cities to coordinate and monitor services, operators to integrate their systems, and passengers, who access the platform through apps and endpoints connected to the WhereIsMyTransport platform. The startup secured two funding rounds back…

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Kenyan logistics startup Sendy raises US$20m in funding round backed by Toyota

KENYA – Sendy, an on-demand logistic platform that connects clients to drivers and vehicles for goods delivery, has raised a US$20 million Series B led by Atlantica Ventures. Sendy’s US$20 million round includes an R&D arrangement with Toyota Tsusho Corporation, a trade and investment arm of Japanese automotive company Toyota, whose investment comes from a venture arm the company established for Africa, called Mobility 54. The company plans to use the funding for new hires and to upgrade its tech. “Getting better operational efficiency is super key so we’ll invest…in…

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Tsusho Corporation to start Toyota Hilux assembly plant in Kenya

KENYA – Toyota Tsusho Corporation (“Toyota Tsusho”) announced that it’ll begin knock-down production (vehicle assembly) of the Toyota Hilux pickup within the Republic of Kenya. The growth of local producing is based on Toyota Tsusho’s memorandum of understanding signed with the Kenyan government at the seventh Tokyo International Conference on African Development (TICAD7). Toyota Tsusho has made the Land Cruiser and Hino trucks in Kenya through the local factory, Associated Vehicle Assemblers Ltd. (AVA) and has oversubscribed the vehicles through its distributor. The assembly lines at AVA are expanded to…

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Toyota expands operations into Ghana, plans new assembly plant

GHANA – Toyota Tsusho Corporation, the largest car manufacturer in the world by volume, is set to start a new car assembly plant in Ghana. The company has signed a deal with the Ghanaian government allowing it to establish an assembly plant in the country. The deal was signed in Yokohama, Japan, in the presence of Ghana’s president, Nana Akufo-Addo. According to Toyota Tsusho’s President and CEO, Ichiro Kashitani, the automobile multinational will establish a Toyota and Suzuki assembly plant in the West African nation. President Nana Akufo-Addo said that…

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Powerhive Inc raises US$9.3m to expand solar power connectivity in Africa

KENYA – Powerhive Inc, a micro-grids operator, has raised US$9.3 million (Sh930 million) in its Series B round of funding to enable the firm expand its solar power connectivity. Powerhive chief executive Christopher Hornor said Toyota Tsusho participated in the latest round with a commitment to actively participate in the project’s rollout for connecting solar power to 20,000 families across Kenya and beyond. “We’re excited to work with Toyota Tsusho who shared our vision to build climate friendly, sustainable and profitable businesses around energy and energy enabled services for the…

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