German automaker Porsche has invested in Israeli auto-tech company Anagog through its Porsche Digital GmbH unit. No financial details were disclosed with Porsche simply saying that it "has purchased a minority stake."
Founded in 2010 by CTO Gil Levy and COO Yaron Aizenbud, the Tel Aviv-based start-up has around 30 employees and specializes in developing artificial intelligence (AI) in the context of mobility. Software programs and patents by Anagog allow companies to better understand and anticipate customer behavior in certain situations, leading to features such as intelligent parking options.
The technology offered by Anagog is integrated into smartphone applications and is currently used in about 100 different apps. 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.
Anagog CEO Ofer Tziperman 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."
Porsche Digital managing director Thilo Koslowski said, "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. 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 benefitting from them."
Two months ago Anagog raised $10 million from investors including German automaker Daimler. The company had raised $15 million before the Porsche investment.
Published by Globes [online], Israel business news - www.globes-online.com - on April 4, 2018
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