Porsche Invests in U.S. Roadside Assistance Startup
24 January 2019 - 1:02AM
Dow Jones News
By Cristina Roca
Porsche Automobil Holding SE (PAH3.XE) said Wednesday it has
invested in U.S. mobility and roadside-assistance startup
Urgent.ly.
The German auto maker said its venture capital arm, Porsche
Ventures, has taken part in a financing round amounting to $21
million for Urgent.ly. The venture-capital divisions of Bayerische
Motoren Werke AG (BMW.XE) and Jaguar Land Rover also obtained
shares in Urgent.ly, Porsche said.
Urgent.ly's platform supports roadside-assistance services in
North America, Europe and Asia through artificial intelligence and
geo-location, Porsche said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
January 23, 2019 08:47 ET (13:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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