• Latest
Pull Systems launches out of Up.Labs-Porsche partnership to tackle EV performance

Pull Systems launches out of Up.Labs-Porsche partnership to tackle EV performance

March 18, 2023
Emilia, Big One & Callejero Fino’s ‘En La Intimidad’ Tops Billboard Argentina Hot 10 For a Fourth Week

Emilia, Big One & Callejero Fino’s ‘En La Intimidad’ Tops Billboard Argentina Hot 10 For a Fourth Week

March 23, 2023
Wrestling Star, Actor Unmasked on ‘The Masked Singer’: Watch

Wrestling Star, Actor Unmasked on ‘The Masked Singer’: Watch

March 23, 2023
Liam Payne & Kate Cassidy Hold Hands On Sexy Date Night In London: Photos

Liam Payne & Kate Cassidy Hold Hands On Sexy Date Night In London: Photos

March 23, 2023
Teresa Giudice’s Hubby Luis Ruelas Says He Wears Her Dead Dad’s PJs To Make Her Kids ‘Feel Safe’

Teresa Giudice’s Hubby Luis Ruelas Says He Wears Her Dead Dad’s PJs To Make Her Kids ‘Feel Safe’

March 23, 2023
His MVP! MLB’s Edwin Diaz and Wife Nashaly’s Relationship Timeline

His MVP! MLB’s Edwin Diaz and Wife Nashaly’s Relationship Timeline

March 23, 2023
Blake Lively and More! What to Know About ‘It Ends With Us’ Film Adaptation

Blake Lively and More! What to Know About ‘It Ends With Us’ Film Adaptation

March 23, 2023
Oma Fertility to speak on building a better IVF experience on TechCrunch Live

Oma Fertility to speak on building a better IVF experience on TechCrunch Live

March 22, 2023
Microsoft launches Loop, its Notion competitor, in public preview

Microsoft launches Loop, its Notion competitor, in public preview

March 22, 2023
An Australian Senator Wore a Tame Impala Shirt In Parliament House

An Australian Senator Wore a Tame Impala Shirt In Parliament House

March 22, 2023
GALE Scores First Top 10 on a Billboard Chart: ‘Such A Special Moment For Me’

GALE Scores First Top 10 on a Billboard Chart: ‘Such A Special Moment For Me’

March 22, 2023
HOT
Celebrity Herald
  • Celebrities
  • Entertainment
  • Music
No Result
View All Result
Celebrity Herald
No Result
View All Result
Advertisement Banner
Home Technology

Pull Systems launches out of Up.Labs-Porsche partnership to tackle EV performance

March 18, 2023
in Technology
382 16
0
Pull Systems launches out of Up.Labs-Porsche partnership to tackle EV performance
548
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter

When Porsche partnered with venture studio UP.Labs, the mission was to create six startups over three years all designed to solve the German automaker’s biggest problems and be compelling enough as a standalone business it that can attract other customers.

On Porsche’s list: software that helps manage and automate the performance of EVs. Pull Systems, the first startup borne out of the partnership, has developed a software product that the two companies say can solve it. Pull Systems, which was unveiled at SXSW 2023, also announced that it raised $5 million in a seed round led by UP.Partners.

“Cars are becoming a combination of software and a battery — and ultimately battery performance,” UP.Labs president Katelyn Foley said. “And OEMs need to really get to a place where they can understand both of those aspects in order to stay competitive, because the things that they’re really good at are actually the more commodity parts of the car.”

Pull Systems is a software as as service platform that provides performance management software to EV suppliers, manufacturers and operators. The product isn’t battery management software (BMS), which is technically responsible for collecting data about the battery and communicating with the battery management system. The startup’s software is a compliment, explained Henry Furman, former venture head of product at UP.Labs, now chief product officer of Pull Systems.

And it has already rolled out to Porsche Taycan vehicles that are on the road today.

The startup developed a library of machine learning models that can analyze and predict vehicle behavior such as driving and charging across the Porsche fleet. That kind of information, coupled with outside data like weather patterns and road conditions, can be used to predict and then inform the automaker or EV owners when a vehicle needs maintenance, when to deploy over-the-air software updates and even boost after-sales revenues.

The software tracks and collects data on each vehicle in the Porsche EV fleet, which can also help identify performance issues that might be solved with new firmware or determine the best second-life option for the battery as it reaches its end of life, Furman added.

Ultimately, the company wants the software to be automated using machine learning tools.

“Our real vision here, within the complexities of electrification, is that the cars are actually able to take on some of the management of their own propulsion system themselves,” Furman said. “We see a great opportunity for us to automate a lot of what is essentially the rules based kind of conclusions for these different software updates.”

For instance, the software might identify a weather front coming into a certain area and issue a software update that helps optimize the batteries, he explained.

That’s a compelling prospect for Porsche, a company that plans to expand its EV lineup beyond the Taycan over the next several years, including the Macan in 2024, the 718 in 2025, a Cayenne and a yet-to-be-named full-sized SUV.

Pull Systems plans to add several more carmakers to its service over the next year.

The Up.Labs connection

UP.Labs is not a venture firm, even though it emerged from, and operates in parallel with, UP.Partners. It’s not a corporate accelerator or incubator either, although it is building startups and working with corporations. The company, which launched during UP.Summit 2022 in Bentonville, Arkansas, is structured as a venture lab with a new kind of financial investment vehicle.

Porsche is its first corporate partner. Foley told TechCrunch that more corporate partnerships will be announced this year.

“The way our model works is we identify large friction areas that touch big value pools, and it’s the confluence of those two things that has to be in place,” Foley said. “So it’s somebody acutely feels the problem and it touches a lot of money — and we won’t consider anything outside of those two areas.”

In the beginning, the firm dissects the corporation to find all problems. UP.Labs identified 217 over at Porsche and whittled them down to a set of problems and accompanying ideas that would solve them. An investment committee that includes UP.Labs, Porsche and UP.Partners, narrows them down to the final pair that the team will start incubating.

Under the three-year agreement with Porsche, UP.Labs will establish six companies, or two a year, with new business models focused on the automaker’s core activities such as predictive maintenance, supply chain transparency or digital retail, according to Lutz Meschke, deputy chairman and member of the Porsche AG executive board on finance and IT.

Read More

Advertisement Banner

You Can Like

Oma Fertility to speak on building a better IVF experience on TechCrunch Live
Technology

Oma Fertility to speak on building a better IVF experience on TechCrunch Live

by
March 22, 2023
0

Oma Fertility is on a mission to improve in vitro fertilization. The company says it accomplishes this by offering clients better technology,...

Read more
Microsoft launches Loop, its Notion competitor, in public preview
Technology

Microsoft launches Loop, its Notion competitor, in public preview

by
March 22, 2023
0

Microsoft Loop, a Notion-like hub for managing tasks and projects that sync across Microsoft 365 apps and services, launched in public preview...

Read more
Instagram is bringing ads to search results and launching ‘Reminder Ads’
Technology

Instagram is bringing ads to search results and launching ‘Reminder Ads’

by
March 22, 2023
0

Meta is introducing two new tools on Instagram designed to open up additional avenues for advertising as the company grapples with weak...

Read more
TechCrunch+ roundup: Big Data’s cloud backlash, CVC pitch tips, de-risking hardware startups
Technology

TechCrunch+ roundup: Big Data’s cloud backlash, CVC pitch tips, de-risking hardware startups

by
March 22, 2023
0

For most of the Information Age, companies that wanted to scale invested in server farms and hired teams to keep them running....

Read more
Meta faces third lawsuit in Kenya as moderators claim illegal sacking, blacklisting
Technology

Meta faces third lawsuit in Kenya as moderators claim illegal sacking, blacklisting

by
March 21, 2023
0

Social media giant Meta and its Kenya-based content moderation partners, Sama and Majorel, are facing a new lawsuit in Kenya. In a...

Read more
Web3 gaming will onboard up to 100M gamers in next 2 years, Polygon and Immutable presidents predict
Technology

Web3 gaming will onboard up to 100M gamers in next 2 years, Polygon and Immutable presidents predict

by
March 21, 2023
0

About 40% of web3 games being built will go live in next 12 to 18 months, Immutable co-founder says Two key players...

Read more
  • Privacy Policy
  • Contact Us

© 2023 Celebrity Herald - All Rights Reserved

No Result
View All Result
  • Celebrities
  • Entertainment
  • Music

© 2023 Celebrity Herald - All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In