Toyota-backed Woven Planet to acquire Renovo Motors.

Toyota-backed Woven Planet, a firm specialised in automated driving, robotics and smart cities, agreed to acquire Renovo Motors, an automotive operating system developer. Financial terms were not disclosed. “The acquisition of Renovo supports Woven Planet's work in transforming worldwide mobility. With Renovo having deep roots in the space, we immediately recognized the opportunity and inherent value of the company. The technical and cultural fit could not have been better and all of us are excited to bring our expertise and technology together to power a new era of automotive technology," Nikos Michalakis, Woven Planet Senior Vice President of Software Platform.