Joby Aviation is based out of California and recently finished a funding round where it raised $590 million that was led primarily by Toyota which invested $394 million.
Previous investors also participated including Intel Capital, JetBlue Technology Ventures, Toyota AI Ventures, SPARX Group, Capricorn Investment Group, and AME Cloud Ventures as well as new investors in Global Oryx and Baillie Gifford.
The Series C funding round brought the company's total funding raised to around $720 million. After its investment, Toyota's Executive Vice President, Shigeki Tomoyama, will be placed onto Joby Aviation's board of directors.
Joby was started up in 2009 with a focus on bringing cheaper and non-polluting air transportation to worldwide markets. Toyota is expected to support both the development and production of Joby's aircraft by offering manufacturing, cost, and quality advice.
Greg Bowles, the Head of Government Affairs at Joby, spoke about how the company's aircraft are "extremely quiet" which would allow for transportation in places helicopters can't land in.
Bowles also stated that the aircraft would be completely silent while flying and around 100 times quieter when a helicopter when arriving or leaving.
“That means we start to interface with people in a much more direct way [and get them] very close to where you want to be,” he said.
He also said that the aircraft would be entirely electric, could go up to 200 mph, has a 150-mile range on one charge, and claim they are "wonderfully green".
“We’re hoping this doesn’t become something only for a certain segment [of customers]. We price it in a way everyone can use it several times a week. It can save time or ensure you don’t get stuck in traffic or reach distances you can’t reasonably move to by car,” Bowles said.
“These are not choices we have today, but would like to.”