Toyota AI Ventures has announced an investment in Parallel Domain, a Silicon Valley-based company that is developing 3D environment generation software for AV simulation.
Toyota AI Ventures joined $2.65 million seed round led by Costanoa Ventures and Ubiquity Ventures, with participation from RRE Ventures, and Bessemer Venture Partners.
Founded in 2017, Parallel Domain automates the creation of rich virtual worlds to enable developers to deploy autonomous technology faster, more safely, and at a lower cost.
The company’s software enables developers to generate a seemingly infinite variety of detailed simulation environments and dynamic scenarios based on both real and fictional locations. Parallel Domain’s technology can catalyze the maturity of any autonomous simulation stack, accelerating a safer self-driving future for everyone.
The company has also recently entered into a partnership with NIO, which is developing electric vehicles for the Chinese market, and their ecosystem partnership with NVIDIA.