Observed Signal · Mar 12, 2024 · Funding · Source: Trending Topics · Impact: 2/5 · Sentiment: Neutral
Applied Intuition Raises $250M at $6B Valuation for Autonomous Driving AI
Applied Intuition, a US developer of AI software for autonomous vehicles, has raised $250 million in a Series E funding round, valuing the company at $6 billion. The round was led by Lux Capital, investor Elad Gil, and Porsche Investments Management, with participation from Andreessen Horowitz, Mary Meeker's growth fund Bond, and former Formula 1 champion Nico Rosberg. The company plans to use the all-equity capital to fund its most ambitious projects while preserving its culture. Founded in 2017, Applied Intuition provides simulation software and data management tools that automakers use to develop autonomous driving systems. The company says it works with 18 of the 20 largest automakers, including General Motors, Toyota, and Volkswagen, as well as autonomous vehicle startups such as Gatik, Motional, and Kodiak. The funding comes amid increased scrutiny of the autonomous vehicle industry, including investigations into GM's Cruise and a software recall by Waymo.
Large Series E funding round ($250M, $6B valuation) for an AI autonomous-vehicle software company; notable for venture capital and AI investment signals, but no direct or near-term impact on the AdTech, MarTech, or digital advertising industry.
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Key Takeaways & Evidence Grounding
- Applied Intuition raised $250 million in Series E funding at a $6 billion valuation.
- The round was led by Lux Capital, Elad Gil, and Porsche Investments Management, with participation from Andreessen Horowitz, Bond, and Nico Rosberg.
- Applied Intuition develops AI-based simulation and data management software for autonomous vehicle development.
- The company works with 18 of the 20 largest automakers, including General Motors, Toyota, and Volkswagen.
- Applied Intuition also works with autonomous vehicle startups Gatik, Motional, and Kodiak, and has a contract with the US Army and Defense Innovation Unit.
Connected Companies & Entities
9 Entities mapped“One of the automakers working with Applied Intuition....”
“One of the automakers working with Applied Intuition....”
“Venture capital firm that led the Series E round....”
“One of the automakers working with Applied Intuition....”
“Venture capital firm that participated in the round and had led earlier rounds....”
“Autonomous vehicle company that issued a software recall....”
“Cited as the source reporting the funding round....”
“Mentioned as a previous employer of Applied Intuition CEO Qasar Younis....”
“Mentioned as a previous employer of Applied Intuition CEO Qasar Younis....”
Ontology Mapping & Concepts
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