Porsche Digital is the digital unit of the Stuttgart-based sports car manufacturer and has been involved in Israel since 2018 in an effort to identify new digital business models and invest in technology startups. In this way, innovative technologies find their way into research and development as well as into other business areas of Porsche AG.
Tel Aviv is one of the most exciting technology centres in the world – particularly in smart mobility, artificial intelligence, big data and cybersecurity. Porsche Digital Tel Aviv is an important part of the local tech scene through investments and innovations. “We believe in Tel Aviv as an innovation centre. Here, disruptive ideas and technologies are emerging in precisely the areas in which we want to grow,” says Lutz Meschke, Deputy Chairman of the Executive Board and member of the Porsche Executive Board for Finance and IT.
“That is why Porsche Digital in Tel Aviv is investing in digital technologies that we can integrate into our Porsche IT landscape over the long term and transfer into digital business models. This is also demonstrated by our recent investment in cybersecurity company Valence Security.”
Porsche Ventures: Investments in Israeli startups
Valence Security is the sixth Israeli startup in which Porsche Ventures has invested directly. The company develops and markets data security solutions in conjunction with the use of software. Porsche Ventures is the venture capital unit of Porsche AG and has locations in Stuttgart, Berlin, Palo Alto and Shanghai in addition to Tel Aviv. It invests in innovative technology and business models around the world. Porsche also acquired a minority stake in the Israeli company TriEye in 2019, for example, which focusses on sensor technologies for short-wave infrared signals.
