April 4, 2018 / 12:09 PM / a year ago

Sportscar maker Porsche ‍invests in Israeli tech start-up Anagog​

FRANKFURT, April 4 (Reuters) - German sportscar maker Porsche has bought a minority stake in Tel Aviv-based start-up Anagog Ltd to expand its expertise in digital technology.

“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,” Thilo Koslowski, Managing Director of Porsche Digital GmbH, a unit of Volkswagen’s Porsche business, said in a statement on Wednesday.

Porsche did not say how large the stake was that it bought, nor did it disclose financial details.

Anagog has developed software that analyses user behaviour directly in the mobile phone, using sensors, and then predicts future scenarios on the basis of artificial intelligence.

In February, German carmaker Daimler and U.S. venture capital firm MizMaa Ventures took part in a round of financing for up Anagog.

Reporting by Maria Sheahan, editing by Louise Heavens

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