Santa Cruz’s Joby Aviation secured $590 million from Toyota, for total funding of $720 million in Series C funding. The company secured $30 million in Series A funding in 2016 (Capricorn Investment Group), and $100 million in a Series B round (Intel).
“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” Toyota President and CEO Akio Toyoda said in a statement. “As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life.”
