German Automaker Porsche Buys Minority Stake in Israeli Artificial Intelligence Startup

Porsche Digital GmbH, the digital division of German carmaker Porsche AG, has purchased a minority stake in Israeli artificial intelligence startup Anagog in order to help expand its digital innovation portfolio, Porsche said in a recent announcement. The financial details of the investment were not revealed.

“The Israeli startup scene in the technology sector is founded on an enormous amount of knowledge and potential. We are keen to work with new companies to continue developing new digital offerings and launch these solutions in the market quickly so that customers can start benefiting from them”, said Thilo Koslowski, managing director of Porsche Digital.

Founded in 2010 in Tel Aviv, Anagog’s AI technology monitors and analyzes mobility patterns using smartphone sensors. The technology helps companies better identify customer behavior in certain situations, which could lead to features such as intelligent parking options, Porsche Digital said.

Anagog’s software is integrated into smartphone applications and is currently used in about 100 apps from around the globe, the company said in the statement. The data is analyzed directly on the mobile device and users are able to retain full control over their data while still benefiting from better contextual services, Porsche said.

“We are looking forward to developing new and innovative ideas with Porsche in order to offer customers the best possible mobility solutions. Digital experience is becoming ever more essential and, most importantly, can also be used in a useful format for new mobility services”, said Anagog CEO Ofer Tziperman.

In February, Anagog raised a reported $10 million in Series B funding from German automaker Daimler and from Mizmaa Ventures. The Daimler investment came through the Mercedes-Benz development center in Tel Aviv.

(via Israel21c)

[Photo: Porsche / YouTube]