Porsche investing €150 million in startups – focusing on AI and blockchain technologies

Porsche has announced it is increasing its total investment in venture capital activities by €150 million for the next five years. By making this move, the German automobile manufacturer intends to gain access to new technologies, trends and business models. Porsche Ventures, being a strategic investor, is aiming to invest in business models that involve mobility, digital lifestyle and customer experience, along with futuristic technologies like AI, blockchain, VR and AR. The company is looking to invest in startups that are still nascent and in their growth phases. For instance, Porsche Ventures' latest investment includes Berlin-based start-up "Gapless" – a company that 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.