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Porsche invests in Silicon Valley start-up “Miles” Sports car manufacturer expands venture portfolio

Stuttgart/San Jose . Porsche Digital is investing in US start-up company “Miles”. The company – based in San Jose, California, and founded in 2016 – is launching the first smartphone-based rewards programme for all forms of travel. Miles has developed a digital platform that rewards users simply for travelling how they travel every day, across various modes of transport.

“Our aim is to tailor our approach to the Porsche customers’ behaviour patterns wherever possible, working across the entire mobility chain to ensure that we support them and they engage with our brand. Set against this backdrop, the strategic approach and the technology behind Miles make it an extremely promising prospect”, explains Thilo Koslowski, CEO of Porsche Digital.

The Miles platform is based on artificial intelligence, which makes it possible to develop a better understanding of a customer’s needs throughout a complete journey, and to anticipate those needs accordingly. Examples might include suggesting a suitable point to stop and refuel or recharge, or to stop for a break, or suggesting suitable mobility solutions for transport connections.

“To date, travel rewards have been siloed and limited to one form of travel – with consumers facing exclusions when it comes to earning and redeeming rewards. Miles solves this gap in the market by allowing anyone to earn rewards – simply by travelling how they do every day”, explains Miles co-founder and CEO Jigar Shah.

Porsche Digital GmbH is a wholly owned subsidiary of Porsche AG and represents its competence centre for digitisation. The company defines and implements new value creation strategies and innovative digital product ranges in close cooperation with all Porsche AG departments. Porsche Digital identifies and evaluates trends and invests in start-ups, thus securing access to relevant technologies. The subsidiary of the Stuttgart-based sports car manufacturer sees itself as an interface between Porsche and innovators all over the world. The company has sites in Ludwigsburg, Berlin and Santa Clara in Silicon Valley, and further locations in Asia are planned.

Images in the Porsche Newsroom (newsroom.porsche.com) and in the Porsche press database (presse.porsche.de).

24/7/2018