UP.Labs & Porsche Launch AI-Powered Automotive Data Startup Sensigo to Make Auto Repairs Faster and More Affordable
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Launched with $5M in seed funding, led by UP.Ventures, Sensigo leverages complex automotive data to predict and assist automotive maintenance for customers and technicians
WESTLAKE, Texas, October 5, 2023-- At the UP.Summit, UP.Labs, a first-of-its-kind venture lab working with global corporate partners to unlock the future of transportation and mobility, and Porsche AG launched Sensigo, the second of six startups, to anticipate and streamline automotive repairs. Sensigo developed an AI-based platform that aims to improve the customer and service technician experience, minimize warranty risk, and increase service center profitability.
“Sensigo addresses a real-world challenge in which cars are heavily software-driven, yet software engineers aren't integrated into the service center team. This results in lost time and money for customers, service centers, and OEMs,” said Rakesh Hegde, Chief Executive Officer of Sensigo. “We built Sensigo to transform the technician experience by empowering them with AI-based workflows and smart diagnostic tools to help address repairs and service more efficiently all while significantly enhancing the customer experience.”
With the increased connectivity in cars, workshop visits are becoming more and more complex. To keep the visits as short as possible, it is important to quickly identify potential sources of error. This increases customer satisfaction, brings higher revenues and reduces warranty costs.
“Due to the increasing connectivity in vehicles, it is becoming more and more important to analyze error patterns in the vehicle at an early stage. We see great potential in Sensigo’s AI platform to shorten workshop visits in the future and thus further increase our customer satisfaction,” said Daniel Schukraft, Vice President After Sales at Porsche AG.
With Sensigo, UP.Labs continues to build upon its partnership with Porsche to launch startups that transform the moving world. Pull Systems, the first startup from the UP.Labs and Porsche collaboration, manages and automates EV battery performance, and is set to generate significant economic savings for Porsche and plans to add several more carmakers to its service over the next year.
Sensigo, the second startup to emerge from the UP.Labs and Porsche partnership, is an AI platform that anticipates and streamlines automotive diagnostics for the service center. Powered by SenseAI, Sensigo is able to prioritize diagnostic data, predict part replacements, and streamline parts procurement to significantly reduce automotive repair costs and time. These workflows and smart diagnostic tools optimize first-time fix rates and vehicle repairs, leading to increased customer satisfaction and revenue for service centers. With cars becoming more software-based, Sensigo advances automotive service and sets the standard in operational efficiency and customer satisfaction. For more information, visit sensigo.com.
UP.Labs is a first of its kind Venture Lab using a new venture model to solve core problems for the world’s most important corporations in the mobility world. By bringing together world-class business leaders, investors and corporate partners, UP.Labs unlocks innovation for corporations who have the scale and resources but cannot do it on their own. Recognizing that transportation is the underlying fabric of society, UP.Labs utilizes these strategic partnerships to rapidly ideate, build and scale disruptive startups transforming the way we move people and goods to be cleaner, faster, and safer. To learn more visit https://up.partners/labs/
UP.Partners is Transforming the Moving World by building and investing in companies that move people and goods cleaner, faster, safer, and at lower cost — on the ground, in the air, on the sea, and in space. The multi-strategy firm achieves this goal through its unique and virtuous ecosystem encompassing UP.Ventures, UP.Labs, and UP.Summit. UP.Ventures invests in companies and technologies to enable the future of mobility, working with some of the world’s most innovative investors and entrepreneurs. With flagship launch partner Porsche, UP.Labs is a first-of-its-kind venture lab, partnering with the world’s largest corporations to identify the most pressing challenges that they, and broader society, face. The UP.Summit is an invitation-only experience co-hosted with Tom and Steuart Walton and Ross Perot Jr., in Bentonville, AR and Dallas/Ft. Worth, TX respectively, bringing together the world’s most innovative minds to rethink the future of transportation. For more information, visit www.UP.partners or follow on Twitter @UpPartnersVC or LinkedIn.
About The Porsche Startup Ecosystem
Porsche is consistently pushing ahead with the expansion of its startup ecosystem in order to increase its innovative strength. In addition to the cooperation with UP.Labs, the sports car manufacturer uses various other instruments. The venture capital unit Porsche Ventures invests directly in promising startups. The company builder Forward31 is a business unit of Porsche Digital that aims to build a portfolio of promising startups in order to tap into new target groups and value chains beyond the core automotive business. In addition, Porsche is a partner of the open innovation platform “Startup Autobahn.”
UP.Summit is an annual, invitation-only gathering of the world’s most innovative minds rethinking the future of transportation. Some of the most impactful investors, entrepreneurs, and leaders in policy, defense, transportation and mobility companies gather at the summit each year with the goal of moving people and goods in cleaner, faster, safer, and at lower-cost ways - on the ground, in the air, on the sea, and in space. UP.Summit was founded in 2017 and is jointly organized by UP.Partners, Tom and Steuart Walton, and Ross Perot Jr.