Porsche Invests in Israeli AI Tech Startup Anagog
Porsche hopes to use Anagog's tech to develop 'personalized services.'
Porsche is investing in Israeli tech startup Anagog. A company press release did not include details of the transaction, but said the automaker had acquired a "minority stake." Founded in 2010, Anagog develops artificial-intelligence software used to predict customer behavior. Porsche believes there are automotive applications for this tech.
"With this investment, Porsche is continuing to drive digital transformation and as a result can now develop and offer context-based and personalized services," the automaker said. The automaker didn't go into much detail about what those services might be, but did mention "intelligent parking."
"We are keen to work with new companies to continue developing new digital offerings and launch these solutions in the market quickly so customers can start benefitting from them," said Thilo Koslowski, managing director of Porsche Digital.
Anagog's tech is currently used in about 100 apps, according to Porsche. It uses data analysis to anticipate the behavior of the user. This is done on a user's phone, without sending data to the cloud or external servers. Porsche said this allows users to maintain complete control over their data. In the context of Facebook's data scandal, it's not surprising that Porsche wanted to emphasize that up front.
Porsche isn't the only automaker investing in Anagog. Two months ago, the startup raised $10 million from a group of investors that included Daimler, reports Israeli media outlet Globes. Automakers are eager to leverage tech companies to develop products and services beyond car sales, and to keep up with transportation-oriented tech firms like Uber and Lyft.