© melpomenem dreamstime.com General | August 21, 2019
TDK Ventures invests in first portfolio company Starship Technologies
TDK Corporation's subsidiary TDK Ventures has made its first investment in Starship Technologies, a developer of autonomous delivery robots, to bolster the company’s momentum and innovation.
“We are excited to become a TDK Ventures portfolio company,” says Lex Bayer, CEO at Starship Technologies, in a press release. “TDK has been a world leader in advanced technology and electronics for decades and we look forward to working with their team as we focus on the next stage of commercializing our business as we expand the roll out of autonomous robot deliveries to more and more communities around the world.” TDK Ventures was announced in July 2019 as a wholly-owned subsidiary of TDK Corporation with an initial fund of USD 50 million to invest in traditionally underfunded technology areas such as materials science and hard tech. By providing startups with access to TDK’s expertise, TDK Ventures expects to work with its portfolio companies to identify and explore new ideas and technologies that will fundamentally change how the world operates. And now, TDK is participating as an investor in Starship’s USD 40 million Series A funding round. Starship Technologies is founded by Skype co-founders, Ahti Heinla and Janus Friis, and led by former AirBnB executive, Lex Bayer. The company has developed autonomous delivery robots that use a combination of sophisticated sensors, artificial intelligence and machine learning to deliver goods locally in minutes. Since the company’s founding, these robots have traveled over 350,000 miles to complete more than 100,000 autonomous deliveries. TDK Ventures aims to help the company expand its reach, with a strong focus on accomplishing its 100 university campus expansion plan, making it easier for students to save time by getting food delivered quicker and at low cost, allowing them to spend more time doing the things they love.