The WayRay start-up develops and produces holographic augmented reality head-up display technologies.
In the latest example of the technology and autonomous ca races in the automobile hot war, Porsche increased its total investment in venture capital activities by €150 million for the next five years. The investment activities being undertaken by Porsche Ventures build in part on the company’s existing start-up investment activities. The stated objective of “Porsche Ventures” is to gain access to trends, new technologies and business models.
Porsche says it is focusing on investments in business models relating to the “customer experience, mobility and digital lifestyle,” as well as on future technologies such as “artificial intelligence, blockchain and virtual and augmented reality.” Through its venture capital activities, the aging sports car manufacturer is seeking to invest in new companies that are in the early and growth phases.
“To continue building on the success that we have enjoyed over the past few years, we must fundamentally change our business model. Porsche has always been among the pioneers of the automotive industry. To date, innovation has been driven to a large degree by technology and with strong links to our current core competencies,” said Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT at Porsche AG.
It was an unusually honest statement from a company built around its inhouse technical prowess.
“In some cases, the changes that are now becoming necessary are linked to topics beyond our main fields of expertise. It is essential that we build a strong ecosystem with competent partners,” Meschke said.
A minority shareholding by Porsche in Berlin-based start-up “Gapless” represents the latest investment made by Porsche Ventures. This new company allows customers to digitally manage their vintage vehicles, including the entire vehicle history, and share this information with other users in a secure format that prevents forgery. To offer this service, the start-up is developing a program based on blockchain technology designed to maintain or increase the value of collector’s pieces. Gapless is currently in the foundation stage and employs nine members of staff.
Porsche Ventures has also invested in technology company WayRay. This Zurich-based start-up develops and produces holographic augmented reality head-up display technologies. It is working on the ability to integrate virtual objects into the driving experience. The total value of the financing is $80 million.
In addition, the Stuttgart-based sports car manufacturer holds shares as a strategic investor in start-ups Anagog, Miles and home-iX, as well as technology and sports car company Rimac.
Venture Capital Funds
Porsche also invests in selected venture capital funds, such as e.ventures in Europe and the USA as well as the Magma and Grove funds in Israel.
The company is also a member of the “Startup Autobahn” innovation platform. In March 2018, Porsche Digital worked with Axel Springer as part of a joint venture to launch the start-up accelerator program APX. However, Porsche does not invest in start-up companies alone: In addition to the deals being made via Porsche Ventures, the sports car manufacturer invests in established businesses in the field of mobility with pioneering technologies.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Porsche Increases Investment in Start-Ups by €150 Million
The WayRay start-up develops and produces holographic augmented reality head-up display technologies.
In the latest example of the technology and autonomous ca races in the automobile hot war, Porsche increased its total investment in venture capital activities by €150 million for the next five years. The investment activities being undertaken by Porsche Ventures build in part on the company’s existing start-up investment activities. The stated objective of “Porsche Ventures” is to gain access to trends, new technologies and business models.
Porsche says it is focusing on investments in business models relating to the “customer experience, mobility and digital lifestyle,” as well as on future technologies such as “artificial intelligence, blockchain and virtual and augmented reality.” Through its venture capital activities, the aging sports car manufacturer is seeking to invest in new companies that are in the early and growth phases.
“To continue building on the success that we have enjoyed over the past few years, we must fundamentally change our business model. Porsche has always been among the pioneers of the automotive industry. To date, innovation has been driven to a large degree by technology and with strong links to our current core competencies,” said Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT at Porsche AG.
It was an unusually honest statement from a company built around its inhouse technical prowess.
“In some cases, the changes that are now becoming necessary are linked to topics beyond our main fields of expertise. It is essential that we build a strong ecosystem with competent partners,” Meschke said.
A minority shareholding by Porsche in Berlin-based start-up “Gapless” represents the latest investment made by Porsche Ventures. This new company allows customers to digitally manage their vintage vehicles, including the entire vehicle history, and share this information with other users in a secure format that prevents forgery. To offer this service, the start-up is developing a program based on blockchain technology designed to maintain or increase the value of collector’s pieces. Gapless is currently in the foundation stage and employs nine members of staff.
Porsche Ventures has also invested in technology company WayRay. This Zurich-based start-up develops and produces holographic augmented reality head-up display technologies. It is working on the ability to integrate virtual objects into the driving experience. The total value of the financing is $80 million.
In addition, the Stuttgart-based sports car manufacturer holds shares as a strategic investor in start-ups Anagog, Miles and home-iX, as well as technology and sports car company Rimac.
Venture Capital Funds
Porsche also invests in selected venture capital funds, such as e.ventures in Europe and the USA as well as the Magma and Grove funds in Israel.
The company is also a member of the “Startup Autobahn” innovation platform. In March 2018, Porsche Digital worked with Axel Springer as part of a joint venture to launch the start-up accelerator program APX. However, Porsche does not invest in start-up companies alone: In addition to the deals being made via Porsche Ventures, the sports car manufacturer invests in established businesses in the field of mobility with pioneering technologies.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.