German sports car maker Porsche AG has acquired a minority stake in Tel Aviv-based startup Anagog, whose technology tracks and predicts user mobility behavior with data from sensors embedded in smartphones, the carmaker announced last week.
The company did not disclose the financial details of the deal.
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Anagog help understands consumer behavior in real-time, mobility status and location — if users are walking, approaching their car or parking -allowing their smartphone apps which could lead to features such as intelligent parking options, Porsche Digital GmbH said in a statement.
Founded in 2010 by Yaron Aizenbud and Gil Levy, Anagog currently has around 30 employees and has raised $15 million to date. In last financial round on Feb 26, 2018 the company has raised $10 million from Daimler and MizMaa Ventures.
“We are delighted that our investment in Anagog allows us to continue developing our expertise and opportunities regarding artificial intelligence in the field of mobility,” said Thilo Koslowski, managing director of Porsche Digital. “The Israeli start-up 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.”
The technology offered by Anagog is integrated into smartphone applications and is currently used in about 100 apps from around the globe, the statement said. Data analysis happens directly on the mobile device, meaning that there is no need for user data to be transferred to the cloud or to external servers. As a result, users retain full control over their data while still benefiting from better contextual services, Porsche said in the statement.
“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.
Porsche Digital is a wholly owned subsidiary of Porsche focusing on the car maker’s digital strategies. The unit identifies and evaluates trends and invests in startups, thus tapping into the latest developments. The company has sites in Ludwigsburg, Berlin and Santa Clara in Silicon Valley, and further locations in Asia are planned.
Intel’s acquisition of Israeli company Mobileye for $15.3 billion in February has pushed Israel to the forefront of the highly competitive autonomous car and auto-tech industry.
According to the Israel Innovation Authority, about 450 Israeli startups are currently engaged in smart transportation fields. In November car maker Mercedes-Benz, a division of the German Daimler AG, opened in Tel Aviv new technology hub.