POAHY Porsche Automobile Holding SE (PK)

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)

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