Kenya: Toyota announces new corporate VC investment
Toyota Tsusho Corporation and its group company CFAO have announced an investment in AiCare, a provider of telematics insurance systems for insurance companies in Kenya. The investment will be executed through Mobility 54 – a corporate venture capital subsidiary of Toyota Tsusho.
AiCare has developed an in-house technology that uses automobile driving data to calculate the driver’s accident risk and quantify a risk score for insurance products.
Furthermore, the data analysis by the AiCare system takes into consideration Africa’s unique road conditions and the way vehicles are driven – such as excluding the detection of vibrations caused by the road surface conditions.
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