Date: March 13, 2024. — Applied Intuition, an autonomous vehicle software company which develops AI-powered software that helps companies build, test, and deploy safe autonomous vehicles, has raised $250 million in a Series E funding round, which has propelled the company’s valuation to a remarkable $6 billion. This significant investment reflects the growing investor interest in AI-powered technologies within the automotive industry.
The funding round was led by Lux Capital, Elad Gil, and strategic investor Porsche Investments Management, with additional participation from Andreessen Horowitz, General Catalyst, BOND, and Human Capital. This marks an increase in valuation for Applied Intuition, which previously raised $175 million at a $3.6 billion valuation during its Series D round.
Applied Intuition’s software plays a significant role in the self-driving car landscape. Using artificial intelligence, their software assists autonomous vehicles in navigating diverse road environments with safety and efficiency. The company’s solutions have broader applications in industries such as defense, construction, and agriculture.
Applied Intuition’s success is also evident in its customer base, as it currently works with 18 of the top 20 automotive original equipment manufacturers (OEMs). Moreover, the company has reported profitable, triple-digit percentage growth year over year, indicating strong performance and market demand for its AI-driven solutions.
The company expects the fresh capital to fund some of its most ambitious projects, aiming to maintain its growth trajectory without compromising its company culture. With this new funding, Applied Intuition is poised to further impact the automotive, defense, construction, and agriculture sectors by enhancing AI capabilities in autonomous vehicles.
News related to Applied Intuition –
