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Porsche Invests € 150 Million in Mobility Start-up

Porsche said on Monday it will invest a total of € 150 million in venture capital funds over the next five years to boost its mobility competitiveness.

The investment is made through Porsche Ventures, which aims to acquire Porsche’s future technologies and new business models.

First, Porsche Ventures invested in start-up Gapless in Berlin, becoming the state of Suzhou. The company wants to provide a service that allows consumers to digitally manage their vintage cars and securely share all the records and information about cars with other users. To achieve this, Gapless is developing a solution based on block chain technology that can maintain or increase the value of vintage cars.

In addition, Porsche Ventures invested $ 80 million in a C funding round at a Swiss augmented reality company WayRay. The company develops and produces augmented reality head-up display technology using hologram. In addition, Porsche has a stake in start-up companies Anagog, Miles, home-iX and sports car specialist Rimac.

In addition to direct investments, Porsche is also investing in venture funds such as the Magma and Grove funds in Israel and e.ventures in Europe and the United States. In March, Porsche Co., Ltd., a member of Platform Startup Autobahn, jointly invested in Accelerator Program APX Launching with German media group Axel Springer.

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