Porsche acquires stake in Aurora Labs

August 17, 2020 //By Christoph Hammerschmidt
Porsche acquires stake in Aurora Labs
Through its venture capital arm, the sports car manufacturer Porsche SE has acquired shares in the software company Aurora Labs in the amount of $2.5 million. The company, which is based in Tel Aviv with offices in Munich, Macedonia and Detroit, specializes in the validation and verification of software in the automotive and connected device sectors.

Aurora Labs ' technology is particularly suitable for efficient and secure OTA software updates. The market is expected to grow strongly in the coming years as the number of vehicle functions increases and the need to be able to update them continuously.

Aurora Labs' software, with its machine learning technology, can detect software errors through faulty transmission and perform system updates for the entire vehicle without delay. If updates are faulty, Aurora Labs' technology can be used to restore a previous and functional software version. This is intended to prevent downtime and reduce update time by up to 90 percent, the company says.

"In the future, software will be the major differentiating factor in vehicles and efficient software updates will play an increasingly important role. With our investment in Aurora Labs, we are expanding our investment portfolio to include a company in a market with strong growth potential," emphasizes Lutz Meschke, who has been responsible for the Porsche Executive Board's Investment Management division since July.

Porsche SE expects such services to become significantly more relevant. The investment in Aurora Labs complements Porsche SE's future-oriented venture capital investments in the two 3D printing specialists Markforged and Seurat Technologies as well as in Aeva, a company specializing in the lidar sector.

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