Porsche has partnered with UP.Labs, a venture studio, with the aim of creating six startups in three years to solve Porsche’s biggest problems and attract other customers. Pull Systems, the first startup to emerge from the partnership, has raised $5 million in a seed round led by UP.Partners. The software-as-a-service platform provides performance management software to EV suppliers, manufacturers and operators. The software can help predict when a vehicle needs maintenance and inform the automaker or EV owners when to deploy over-the-air software updates, improving after-sales revenues.
The startup has already rolled out its software to Porsche Taycan vehicles on the road, using a library of machine learning models to analyze and predict vehicle behavior such as driving and charging across the Porsche fleet. It tracks and collects data on each vehicle in the Porsche EV fleet, which can help identify performance issues that might be solved with new firmware, or determine the best second-life option for the battery as it reaches the end of its life.
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Henry Furman, former venture head of product at UP.Labs and now Chief Product Officer of Pull Systems, explained that the software is a complement to battery management software (BMS), which is technically responsible for collecting data about the battery and communicating with the battery management system. The company ultimately wants the software to be automated using machine learning tools, allowing the cars to manage some of their own propulsion system.
