Porsche Invests In Israeli Motorsport Tech Startup Griiip

By NoCamels Team July 07, 2021 2 minutes

The Griiip team with members of Porsche Ventures gather at a race car track in Germany. Photo: Griiip

Porsche Ventures, the car manufacturer’s venture capital division, announced a new investment on Wednesday in Israeli motorsport technology startup Griiip. The investment amount was not disclosed but according to the announcement, Porsche Ventures took a minority stake in the Israeli company.

Founded in 2015 by Tamir Plachinsky and Gil Zakay, Griiip developed a cloud-based data platform called RAMP (Racing Media Platform) that enables the transmission of motorsport data directly from the racing car. The company’s mission is to introduce a new dimension of user engagement, data analysis, and immersive and personalized viewing experience aimed at bringing the excitement of motorsport to every level of end-user – drivers, teams and fans, Griiip says.

The solution includes direct access to raw data from the vehicle electronic units through a hardware component known as the Red Box. The information is extracted during races and used to create data-driven products including live content. It allows viewers to access drivers’ profiles and compare their performance in real-time in an innovative way. This can include a range of datasets such as driver stress levels, the vehicle’s battery status, predicted lap times or tire data, and other factors.

Griiip’s offering also includes gaming and eSports connectivity in what the company terms “Mixed Reality Racing.” It integrates real-world race data with data from racing simulators and lets sim(ulated) drivers race against professionals during live race events.

“The advantage of connecting racing cars at live events brings even more opportunities, such as generating more engaging broadcast and streaming content, as well as connecting the racing series to betting platforms,” the Israeli company indicated in an announcement.

Griiip also developed and released its first race car in 2016, the G1, an entry-level Formula 1000 race car powered by the Aprilia V4 1000cc engine, which the company touted as more cost-effective than any other similar car because of its simple frame.

“We are delighted to have Porsche, one of the most iconic sports car brands in the world, joining Griiip as a strategic investor, sharing our vision of a new digital universe for the racing and sport driving ecosystem,” said Plachinsky, who serves as CEO. “We are confident that our innovative data platform, RAMP, will connect motorsport racing fans, teams, drivers and eSport gamers together like never before.”

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“Motorsport has always been part of Porsche’s DNA and digitization is part of our Strategy 2030,” said Lutz Meschke, deputy chairman of the Executive Board and member of the Executive Board for Finance and IT at Porsche. “This investment is another exciting and promising step to transfer our heritage into the future.”

Porsche recently conducted a successful proof of concept to verify the Griiip’s technology, the car giant indicated.

“Griiip offers a future-oriented and innovative motorsport data platform which connects all stakeholders (up to mixed reality races) and creates a new era of motor-racing viewing experience,” added Fritz Enzinger, VP of Motorsport at Porsche. “This is outstanding in motorsport.”

Porsche Ventures Investment Director Talia Rafaeli said the investment in Griiip “supports Porsche’s core business through new approaches to fan engagement and audience capturing.”

“Our goal is to enhance learnings about racing media and gauge the influences in the digital universe of eSports, SIM racing and gaming, while benefiting from a potential financial return of investing in the development of next generation business models,” she added.